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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
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Google halves Play Store fees for subscription apps

10/21/2021 | 01:20pm EST
FILE PHOTO: Google logo is seen on on the company's European headquarters in Dublin

Oct 21 (Reuters) - Alphabet Inc-owned Google said on Thursday it is lowering the fee that subscription-based apps need to pay Play Store to 15% right from day one, following criticism about its fee structure from companies such as Spotify .

Currently, developers pay a 30% subscription fee in the first year, and 15% thereafter.

"We've heard that customer churn makes it challenging for subscription businesses to benefit from that reduced rate. So, we're simplifying things to ensure they can," Google said in a blogpost https://android-developers.googleblog.com/?m=1.

The new structure will kick in from January next year and likely encourage developers to switch from one-time payment modes to subscriptions.

E-book companies and on-demand music streaming services, which use most of their sales to pay for content costs, will now be eligible for a service fee as low as 10%.

Google has come under fire from large firms such as Microsoft Corp, Spotify Technology SA, as well as startups and smaller companies, that allege the fees deprive consumers of choices and push up app prices.

In March, Google had said it will cut the service fee it charges developers on its app store by half on the first $1 million they earn in revenue in a year, a move similar to iPhone maker Apple Inc. (Reporting by Eva Mathews in Bengaluru; Editing by Devika Syamnath)


ę Reuters 2021
Stocks mentioned in the article
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ALPHABET INC. 2.35% 2910.61 Delayed Quote.66.07%
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Financials (USD)
Sales 2021 254 B - -
Net income 2021 73 028 M - -
Net cash 2021 143 B - -
P/E ratio 2021 26,9x
Yield 2021 -
Capitalization 1 936 B 1 936 B -
EV / Sales 2021 7,06x
EV / Sales 2022 5,93x
Nbr of Employees 150 028
Free-Float 93,1%
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Mean consensus BUY
Number of Analysts 47
Last Close Price 2 910,61 $
Average target price 3 326,01 $
Spread / Average Target 14,3%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
John L Doerr Independent Director
Ann Mather Independent Director
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