We all have to pay our bills in order to create a meaningful life.
There are two possibilities to make money with your meditation business:
- Pay Per Download: Paid downloads are a rather outdated and frankly not effective way to earn money with the app. Modern users do not want to buy a pig in a dorm and prefer to explore the app before paying for it. However, there are still some apps that use this monetization model. Example: Buddhify – $4.99 for iOS and $2.99 for Android.
- Subscription: The subscription is, similar to the subscription to magazines, a presale in the book trade, classical music, stock business, software distribution and wine trade. The term is derived from the Latin sub, under ‚and scribere, write‘ and means ’sign‘ or ‚make a signature‘. The English term subscription as well as the French term souscription are also generally understood in the sense of ’subscription‘. Example:
- Headspace $12.99/month $94.99/year $399.99/lifetime
- Calm: $12.99/month $59.99/year $299.99/lifetime
Now let’s play a little math game. HMTCTE is a nice calculator to gain financial insights about your product. If you think of a 12.99/month and want to make 1.000.000$ in one year, you need 6416 Users.
How to reach that? Follow our Tutorial How to Grow your Meditationapp.
How to start your own Meditation app? Start your mindful business.