UPDATE: Google (GOOGL) to Slash the Fee it Takes From App Store Subscriptions - Bloomberg

October 21, 2021 12:06 PM EDT

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(Updated - October 21, 2021 12:11 PM EDT)

Google (NASDAQ: GOOGL) is slashing the fees it takes from subscription services on its app store following pressure from developers and lawmakers, according to a report from Bloomberg.

Beginning Jan. 1, the Google Play Store will charge third-party subscription apps a 15% commision. Previously apps were charged 30% for the first year then 15% thereafter. Google also charged 15% for the first $1 million in revenue.

  • Match Group (NASDAQ: MTCH), Spotify (NYSE: SPOT), Roblox (NYSE: RBLX), Bumble (NASDAQ: BMBL) gained following the report.

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