Apple Expands App Store Pricing Options Amid Slowing App Economy Growth
Apple introduces 700 new price points to its App Store as global app spending growth slows. The changes give developers more flexibility and come amid increasing regulatory pressure on the tech giant.
The global app economy shows signs of slowing growth as spending reaches $65 billion in the first half of 2022, marking only a slight increase from the previous year. This deceleration follows a period of pandemic-fueled hypergrowth, though the industry still produces record numbers of downloads and consumer spending across iOS and Google Play.
Apple responds to mounting legal and regulatory pressure by significantly expanding App Store pricing options for developers. The tech giant adds 700 new price points, bringing the total to 900, and allows U.S. developers to set prices as low as $0.29 or as high as $10,000.
The updated pricing system gives creators more flexibility by permitting rounded endings like $1.00 instead of the traditional $0.99 format. Additionally, new tools help developers manage foreign exchange and tax rates automatically across 174 storefronts and 44 currencies, with the changes initially rolling out for subscriptions before expanding to all paid apps and in-app purchases in spring 2023.