EXPLORING REVENUE GENERATION MECHANISM IN MOBILE APPLICATIONS: AN ANALYSIS OF MONETIZATION METHODS
DOI:
https://doi.org/10.17770/iss2024.8345Keywords:
mobile apps, business, money generation, revenue, monetizationAbstract
These days, the world is constantly changing: various innovations, digitization, and new business models are rapidly developing in every country. However, the focus is mostly on digitization, where efforts are made to eliminate physical information providers and transfer all knowledge to the electronic space. As a result, most young entrepreneurs choose to start businesses by using mobile applications, but just a few delve into how these apps can generate income. The aim of this article is to analyze seven main business strategies to generate money, which are app sales, in-app purchases, in-app advertising, subscription models, freemium model, affiliate marketing, and data monetization that individuals can employ to generate income from mobile apps. Using the method of literature source analysis, it was determined that the monetizing method from apps depends on the purpose and type of the application, making it impossible to highlight the best income generation method. Therefore, it is crucial for young entrepreneurs to recognize that understanding how programs generate income is not only beneficial in personal life but also essential for developing business skills for the future.
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