App Industry Navigates Pandemic With New Store Rules and Layoffs
The mobile app industry continues to boom despite the pandemic, but companies like VSCO are making deep cuts to survive. Meanwhile, Instagram and TikTok roll out new features to support businesses and protect younger users.
The mobile app industry remains a massive economic force as users spend an average of three hours and forty minutes per day on their smartphones. The coronavirus outbreak continues to reshape this landscape, prompting platforms to adapt their features and businesses to adjust their financial strategies to survive the economic shutdown.
Instagram introduces new tools to help small businesses stay afloat by allowing profiles to display gift cards, food orders, and fundraisers. These changes aim to support the millions of U.S. businesses at risk of permanent closure, while TikTok responds to increased usage by rolling out new parental controls to protect younger audiences.
Not all app companies are thriving during this crisis, as popular photo editing app VSCO lays off thirty percent of its staff to ensure long-term survival. Additionally, Google updates its Play Store guidelines and introduces a "Teacher Reviewed" tag, while Apple potentially expands its Search Ads to capture more of the record-breaking app economy.