Global mobile consumer spending on the Apple App Store and Google Play – the two largest distribution channels for mobile apps in the world – increased 34.5 per cent year-on-year on Christmas Day, according to a new report.
Total app revenue earned on December 25 was $407.6 million, nearly $104.6m more than the same day in 2019, San Francisco-based mobile app researcher Sensor Tower Store Intelligence said in the report.
Although Google’s Play store has more subscribers as Samsung, Huawei and many other manufacturers use its Android platform, Apple’s App Store generated more revenue.
“As in previous years, Apple’s App Store captured the bulk of the spending between the two platforms ... it saw 68.4 per cent of the spending, or $278.6m, up 35.2 per cent year-on-year,” the report said.
Google Play saw $129m in revenue, an annual increase of 33 per cent.
There are more than 2.5 billion active Android devices, with the platform supporting both premium and budget-conscious devices, according to Google.
Apple said in January 2020 it has 1.5 billion active devices, a jump from 1.4 billion devices in 2019.
Mobile spending on December 25 comprised 4.5 per cent of the month’s total spending, which reached approximately $9 billion globally from December 1 to December 27.
In 2020, the majority of Christmas spending was on mobile games, which increased 27 per cent to $295.6m this year, Sensor Tower said. Consumers spent $112m on non-game apps at Christmas, up 59 per cent from $70.5m in 2019.
Worldwide spending across the App Store and Google Play skyrocketed in 2020 due to the Covid-19-induced lockdowns and travel restrictions, with many customers turning to mobile games and video-on-demand apps for entertainment, and video conferencing for work and education.
Annual consumer spending on mobile apps and games crossed the $100bn mark in 2020.
Spending reached nearly $106bn globally between January 1 and December 17, 2020, up 30 per cent year-on-year.
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Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
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What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
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Global state-owned investor ranking by size
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United States |
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China |
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UAE |
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Japan |
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Norway |
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Canada |
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Singapore |
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Australia |
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Saudi Arabia |
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South Korea |
