Archive for October 29, 2020

Thursday, October 29, 2020 [Tweets] [Favorites]

MoneyWell 3.0.15

Diligent Robot (tweet):

We’re pleased to announce that we’ve just released version 3.0.15 of MoneyWell for macOS. This is a minor update to fix a few bugs.

The new developers haven’t charged for an update yet, but they’ve been responsive to support e-mails and have chipped away at bugs that predated them. Syncing continues to be a problem, but fortunately I don’t use that feature. For my purposes, the app continues to work well.

Previously:

Update (2020-11-02): Diligent Robot:

Moneywell had once had Dropbox syncing, but when the Dropbox version 1 API was closed down, Moneywell Sync had just stopped working, and for many, that was when their relationship with MoneyWell had come to an end.

[…]

By early 2020 it had become obvious that the renovation project was not only behind schedule but probably about twice the size we had anticipated.

[…]

In the spring of 2020, we panicked. We felt we couldn’t just keep going with the renovation and needed to get something out. We put the renovation on hold to return to the existing MoneyWell and started to try and patch it up with a new sync system and other fixes so that we could get something out of the door. It was the wrong move. We spent the spring and the summer producing what could only be called a Frankenstein piece of software that would have been unreliable and left users underwhelmed and disappointed.

[…]

So here we are at the beginning of the fall of 2020. We have scrapped the Frankenstein edition and returned to our renovation accepting that there is still a significant amount of work to do but when done will be the right thing.

About That 85%

Jacob Eiting (via David Barnard):

Turns out, the 85/15 split — which Apple is keen to mention anytime developers complain about the App Store rev share — doesn’t have a meaningful impact for most developers. Because churn.

[…]

Top mobile apps like Netflix and Spotify report churn rates in the low single digits, but they are the outliers. According to our data, the median churn rate for subscription apps is around 13% for monthly subscriptions and around 50% for annual. Monthly subscription churn is generally a bit higher in the first few months, then it tapers off. But an average churn of 13% leaves just 20% of subscribers crossing that magical 85/15 threshold.

[…]

According to our [RevenueCat] data, just 16% of apps manage to achieve a takehome rate above 75%.

Michael Love:

To me this is actually an argument against offering subscriptions; if 80% of monthly subscribers quit after one year then you’re better off charging them up front, they weren’t going to produce long-term ongoing revenue either way.

David Barnard:

The magic really starts happening a few years in. Great apps retain more than 20% (especially as a blend of monthly and annual), and many of those will end up retaining for years. As those cohorts stack, you can build a really strong business.

Previously: