Paid Apps on the Rise

Analysts from the Yankee Group released a study showing that paid apps are fast increasing in popularity. According to their study, nearly 1/3 of all apps are paid, compared to just 18% in March of 2009. The average price of a paid app has also increased, moving to $2.85 this March from an average of $1.99 a year ago.

The fact that both number have moved up significantly caused the Yankee group to revise its projections of mobile app revenue. They've doubled their previous estimate, stating that mobile apps will generate $1.6 billion in revenue this year; the previous forecast was $537 million.