iPhone Economics - it is bad news. And then it gets worse

Story: http://communities-dominate.blogs.com/brands/2010/06/full-analysis-of-iphone-economics-its-bad-news-and-then-it-gets-worse.html

As gigaom's summary put it, it is a losing proposition for MOST AppStore developers. Here’s the summary of summary:

• The iTunes App Store has generated 5 billion downloads and $1.4 billion in revenues, which works out to 20 cents per downloaded app for a developer, after Apple’s 30 percent cut.
• After considering that 73 percent of all apps are paid, each of the 164,000 paid apps in the App Store generate an average of $3,050 for a developer in a year.
• Although there are more paid apps than free apps, 85 percent of all downloaded apps are free. Even with an average of 94 apps installed, each Apple mobile devices only generate $14 for developers annually.
• With the low estimated development cost effort of $15,000 it can take a developer up to 22 years to recoup costs from creating a mobile app, using the median revenue of $682 annually.

The Winner: Apple ofcourse. 30% cut is not bad.