Last week I mentioned that it is probably the unknown “size of the consumer base and the newness of the App Store - that is most likely scaring marketers [away from developing iPhone apps]. If a platform is uncharted, how can a marketing director establish ROI from it?” Now, after only one month since its unveiling, sales show it could be a huge success.
Jobs told the WSJ today that the App Store could harvest “at least $360m a year” for Apple. Even though the iPhone market is made up predominantly of early adopters and Apple fanatics, once they’ve gorged themselves on Apps there is still the remaining 60% of the Smartphone market in the US to tap and even greater bounties to be ploughed overseas. Jobs even suggested one day the App Store could be worth $1billion. Hyperbole aside, the store will be turning over healthy figures. Not bad for a store that gives away so many products for free. And not bad considering the apps are still relatively primitive. Wonder whether we’ll see some brands getting involved now…
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