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The Superwall Podcast · 2026-07-22

Steve Young - Beginners Guide to Buying & Selling Apps 2026

Steve Young (App Masters) explains his ASO-first approach to buying and building apps: find low-competition keywords (~30+ search volume, top competitors with few reviews and no keyword in title), name the app after the keyword, then monetize with a hard paywall. Case studies: a 2022 acquisition taken from $1-2K to $8-10K/month with a hard paywall and $60/year price (trial starts 6% -> 13%), a client app named after a keyword that hit #1 in week one, and a recent ~$500K/year acquisition. Also covers loan-financed acquisitions, Meta economics ($3 RPI floor) and traffic-source-based paywalls.

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15 tactics

A niche subscription app · B2C · guest's 2022 acquisition

Revenue up from $1-2K to $8-10K a month with the same downloads

Couldn't outrank an app for a keyword wanted for a client, downloaded it and saw it was undermonetized: #1 for two keywords with ~28 and ~34 search volume, 100-150 downloads/day, one-time $2-3 price, no onboarding paywall. Benchmarked price on a similar client app doing ~$1M ARR at $60/year. Bought it (2022), added onboarding and a paywall (mid-May), went fully hard paywall with a trial at $60/year in June. No new features and no extra downloads.

Workedexit-mapaywall
The Superwall Podcast · 2026-07-22

A niche subscription app · B2C · guest's 2022 acquisition

Trial starts doubled from 6% to 13%; trial-to-paid unchanged; some one-star reviews

Same app, same downloads: compared the paywall with a close (X) button against a hard paywall with no X. Watch trial-to-paid: if it holds while trial starts double, the hard paywall wins. Recommended at launch to force a product-market-fit test; exit-intent offers can mimic a soft paywall.

Workedpaywall
The Superwall Podcast · 2026-07-22

A niche subscription app · B2C · App Masters client

#1 in week one, 100 downloads a day, $1,600 first month, ~$20K MRR years later

Found a keyword (two variants, one word and two words, each ~30 search volume) that no competitor used in its title, based on an owned app ranking #1 for similar-volume keywords at 100-150 downloads/day. Asked a client with a new app idea to name the app exactly that keyword. Launched with no free trial.

Workedasopositioning-niche
The Superwall Podcast · 2026-07-22

Practitioner pattern · Steve Young (Runs App Masters, an ASO/Apple Ads agency and course business; ASO Mobile, the keyword tool he recommends, sponsors his channel)

Used to launch and buy apps that reached #1; no pooled numbers

Start from categories with high revenue per install and 'painkiller' niches (green noise, migraine tracker vs meditation). Search a broad term and look for an app ranking high with few ratings (e.g. #3 with 138 reviews); put it into ASO Mobile to list every keyword it indexes for. Target keywords with search volume ~30+ where few top apps have the keyword in their title and the #2-#3 apps have only ~100+ reviews, ignoring tool difficulty scores. Check Sensor Tower/Meta Ad Library to confirm the outlier isn't driven by ads. Find the keyword first, then build the app.

Workedasomarket-selection
The Superwall Podcast · 2026-07-22

Green Noise App · B2C · green noise sleep sounds app

Reached #1 for 'green noise'; still #3 with little upkeep

Title: 'Green Noise App'. Subtitle: 'Green Noise for Better Sleep', the App Store autofill suggestion for 'green noise'. Keyword field: 'green,noise,app,free'. Aimed at every autofill variant of the main term (green noise free, free green noise, green noise for better sleep). Done quickly at launch without deeper optimization.

Workedaso
The Superwall Podcast · 2026-07-22

A health and fitness app · B2C · guest's recent acquisition

For a newly bought ~$500K/year app already #1 for its main keyword, exported keyword data and filtered by the main term: 24 variants with search volume >= 24 (analogy: green noise -> blue noise, purple noise). Keep adding them to the title/subtitle instead of diluting into unrelated terms (like 'Migraine Buddy: Track Headache' adding chronic pain, triggers). Cut Apple Ads from ~$10K to ~$5K/month to shift effort to ASO. Next: test Meta aimed at an older audience.

Unknownasoapple-search-ads
The Superwall Podcast · 2026-07-22

Indie App Santa · acquired app

Money back in 3-4 months on one purchase; example leaves ~$5K a month after loan payments

Rather than paying cash, take a loan for the purchase price. Illustration: an app making $10K/month profit bought for $350K on a 10-year loan with ~$5K/month payments leaves ~$5K/month profit; price is earned back in ~3 years with 7 more years of loan term. Only buy apps with organic distribution built in, so profit doesn't depend on continued ad spend. Used for Indie App Santa (2024) even though they had the cash.

Workedfinancingexit-ma
The Superwall Podcast · 2026-07-22

A health and fitness app · B2C · guest's recent acquisition

Best buys fit this; one $18K purchase without it flopped

Criteria: distribution (preferably organic, not paid) already built in, plus room to grow via monetization or new channels. Recent ~$500K/year buy: more keywords to target and no Meta yet for an older audience. Avoid apps that depend on paid ads ('a money-eating machine').

Mixedexit-maportfolio
The Superwall Podcast · 2026-07-22

An organic-only app · B2C · guest's own app

Only ~$1 revenue per install; economics didn't work

App making ~$3K/month, all organic. Tried Meta ads and also tried a hard paywall to lift revenue per install.

Failedpaid-socialpaywall
The Superwall Podcast · 2026-07-22

A subscription app running Meta ads · B2C · guest's past podcast guest

Guest says the ad account got smarter; no numbers

Registration before the paywall. Pixel standard events: CompleteRegistration at sign-up, ViewContent mapped to paywall view, InitiateCheckout, then Purchase (no trial). Campaign still optimizes for purchase. Borrowed from e-commerce.

Workedpaid-socialanalytics-attribution
The Superwall Podcast · 2026-07-22

A subscription app · B2C · example shared by Apphud

Reported to perform a lot better; no numbers shared

Use the 'Where did you hear about us?' onboarding answer (also a backup to the MMP) or the Superwall + Apphud attribution integration. App Store search or friend referral -> soft paywall with X to avoid one-star reviews; Instagram/Facebook -> hard paywall. Steve's extension: use other onboarding answers (e.g. professional vs personal use) to pick hard vs soft paywall or a higher price.

Workedpaywallonboarding
The Superwall Podcast · 2026-07-22

A niche subscription app · B2C · App Masters client

Performed a little better; no numbers

Launched with a soft paywall and no trial, which converted because the niche was narrow; then switched to a hard paywall (no X) with a trial. Speaker says trials usually beat no trial in his apps.

Workedpaywall
The Superwall Podcast · 2026-07-22

App Masters · B2B · ASO agency and app studio

Speaker's standing process; no numbers

Build a good-enough version with standard onboarding and a hard paywall and put it live. No downloads -> stop, don't build features or tune monetization. Downloads -> aim for 5-10% trial starts; if trial-to-paid is below the 30-40% industry average, it's a product problem, not a channel problem, so finish the product.

Unknownvalidationaso
The Superwall Podcast · 2026-07-22

A design app · App Masters client

Outranked Canva on a keyword

Client app first targeted a niche keyword Canva couldn't focus on, then moved up to bigger keywords.

Workedaso
The Superwall Podcast · 2026-07-22

An AI app in validation · B2C · host's client

Find viral videos with SpyTok, build a TestFlight with only the feature that looks good on camera, hand it to a creator to film (two phones: one recording, one showing the app). If videos go viral while the app isn't live yet, demand is validated.

Unknownvalidationinfluencer
The Superwall Podcast · 2026-07-22

Numbers mentioned

WhoMetricValueContextWhen
Steve Young's recent acquisition (health & fitness app, ~$500K/year)revenueUSD 1M
approximate
lifetime revenue, over $1M8:37
Steve Young's recent acquisition (health & fitness app, ~$500K/year)revenueUSD 500K/year
approximate
last year; mostly App Store Search, some Apple Ads8:37
Steve Young's recent acquisition (health & fitness app, ~$500K/year)ad spendUSD 10K/month
approximate
Apple Ads last month; being lowered to ~$5K this month9:17
Steve Young's recent acquisition (health & fitness app, ~$500K/year)ad spendUSD 5,000/month
approximate
Apple Ads current month after scaling down9:17
Steve Young's recent acquisition (health & fitness app, ~$500K/year)arpuUSD 3per install
approximate
revenue per install (RPI)17:07
Steve Young's recent acquisition (health & fitness app, ~$500K/year)count24 keywordskeyword variants containing the main term with search volume >= 24 that the app can still target47:05
Older health & fitness app doing $6M/year mostly from App Store SearchrevenueUSD 6M/year
approximate
last year; primarily organic App Store Search, hard paywall8:37
Older health & fitness app doing $6M/year mostly from App Store SearchrevenueUSD 4M/year
approximate
portion attributed to App Store Search8:37
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordsdownloads100–150 downloads/day
approximate
organic, from ranking #1 for two ~30-volume keywords; unchanged after monetization changes17:49
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordscount28–34 search volume
approximate
search volume of the two keywords the app ranked #1 for17:49
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordspriceUSD 2–3/one-time
approximate
price before acquisition; no onboarding paywall17:49
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordspriceUSD 60/yearnew annual price behind hard paywall18:27
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordsrevenueUSD 1,000–2,000/month
approximate
before hard paywall and price increase19:33
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordsrevenueUSD 8,000–10K/month
approximate
after hard paywall, onboarding and $60/year price; same downloads18:27
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordsconversion rate6%trial start rate with a closable (X) paywall20:05
App Steve Young bought in 2022 ranking #1 for two ~30-volume keywordsconversion rate13%trial start rate with hard paywall (no X); trial-to-paid unchanged20:05
App Masters client doing ~$1M ARR at $60/yeararrUSD 1M
approximate
app only; client also had a larger web product18:27
App Masters client doing ~$1M ARR at $60/yearpriceUSD 60/year18:27
App Masters client app named after a low-competition keywordtime to milestone1 weeks
approximate
time to rank #1 for the keyword the app was named after15:56
App Masters client app named after a low-competition keywordrevenueUSD 1,600/monthfirst month after launch (also described as first 21 days), no free trial15:56
App Masters client app named after a low-competition keyworddownloads100 downloads/day
approximate
right after launch, from ranking #124:00
App Masters client app named after a low-competition keywordmrrUSD 12K–15K
approximate
reached with ASO only, a couple of keywords15:56
App Masters client app named after a low-competition keywordmrrUSD 20K
approximate
a few years after launch; now adding other channels15:56
Migraine BuddyrevenueUSD 50K/month
approximate
11:34
Migraine BuddyrevenueUSD 70K/month
estimate
iOS, per Sensor Tower, from ~30K downloads12:58
Migraine Buddydownloads30K downloads/month
estimate
iOS, per Sensor Tower12:58
Green Noise Apprank3 ranksearch rank for 'green noise' (was #1 for a while)21:09
Steve Young's organic app doing ~$3K/monthrevenueUSD 3,000/month
approximate
all organic33:50
Steve Young's organic app doing ~$3K/montharpuUSD 1per install
approximate
revenue per install on Meta traffic33:50
App Steve Young bought for $18,000 that floppedexit priceUSD 18K/one-timeprice App Masters paid; the app flopped41:46
Indie App Santapayback period3–4 months
approximate
time to earn back the acquisition price41:09
benchmarkMinimum revenue per install before running Meta adsarpuUSD 3per install
estimate
RPI floor to consider Meta17:07
benchmarkMaximum cost per trial to consider Meta ads when optimizing for trialscpaUSD 10–15
estimate
cost per trial33:50
benchmarkTarget install-to-trial-start rate for a new appconversion rate5–10%
estimate
install -> trial start29:53
benchmarkIndustry-average trial-to-paid rate; below it signals a product problemconversion rate30–40%
estimate
trial -> paid29:53
benchmarkMinimum keyword search volume (ASO tool score) worth targetingcount30 search volume
estimate
two ~30-volume keywords at #1 ~= 100-150 downloads/day15:14
benchmarkBeatable keyword: #2-#3 ranked apps have only ~100+ reviews and few apps use the keyword in their titlecount100 reviews
estimate
12:11
aggregateConsumer app founders Steve talks to who share big MRR publiclyroas0.9–1 x
estimate
many are at 90-100% ROAS, i.e. roughly break-even16:40
aggregateSteve's apps and clients plus founders he knowsmrrUSD 5M
estimate
reachable with only one or two channels (mostly ASO, Apple Ads, Meta)6:00
benchmarkIllustrative loan-financed acquisition: $10K/month profit app bought for $350K with a 10-year loanexit priceUSD 350K/one-time
illustrative
42:55
benchmarkIllustrative loan-financed acquisition: app profitprofitUSD 10K/month
illustrative
42:55
benchmarkIllustrative loan-financed acquisition: 10-year loan repaymentdebtUSD 5,000/month
illustrative
monthly loan payment on a 10-year loan; leaves ~$5K/month profit, cash back in ~3 years43:25