Google’s (NASDAQ:GOOGL) decision to cut more store fees for subscription-based apps is a windfall for software companies. Bumble (NASDAQ:BMBL), Match (NASDAQ:MTCH), and IAC/InterActiveCorp (NASDAQ:IAC) all bounced back in the last month.
Game platform Roblox (NYSE:RBLX) also benefits from lower Android app costs. As Google slashes fees by half, from 30% down to 15%, the app platforms will enjoy better profits. Google will attract more developers and stimulate app development on the Android platform.
Google’s lower rates will pressure Apple (NASDAQ:AAPL). Previously, Google would take 30% in the first year and then cut that to 15%. Now, the 15% fee increases will help Roblox, IAC, Match, and Bumble thrive. Roblox is especially the gaming stock to watch. After Facebook (NASDAQ:FB) said it would hire 10,000 people across the EU to build its Metaverse, Roblox’s platform increased in value.
Roblox is ahead of Facebook in the Metaverse. In August, user growth increased. It reported 48.2 million daily active users, up 32% from last year. Users spent an incredible 4 billion hours playing online games on Roblox.
As the lockdown eases considerably and is eliminated across the world, online sites like Roblox could face a slowdown. Google’s lower fees and the potential for Apple to cut them, too, will help all app companies. Match and Bumble will thrive because it benefits even more from the growth in demand for meeting in-person and face-to-face.
