Canada's Top Grossing Finance Mobile App Generates Barely $80,000 Annually

Last summer, we covered Fission Media's success with Back in Black, an iPhone app that helps with your finances. The $2.99 app shot to the top of Apple's category for paid finance apps in Canada and cracked the top five in the US, UK and Australia.

Back in Black went on to hold the number one slot for an astounding seven months in Canada (it now costs $3.99 following a "major update"). It even found itself at one point in the top 50 for all iPhone apps.

So you would think—or at least hope—that Edmonton's Fission Media has made an absolute killing off the app, generating millions in revenue. You would be wrong.

Unfortunately, we've learned that all of this Canadian and worldwide success has translated into just $80,000 for the company (after Apple's 30% cut)—barely the annual salary of a decent mobile developer. Alas, it's the harsh reality: most app developers face serious struggles and 59% of app developers don't break even from their apps.