In-app purchasing is the new app gold

Virtual good sales are spiking within Apple’s iOS ecosystem, with revenues from such sales dwarfing ads revenue, reports analytics firm, Flurry.

The analytics company looked at revenues accrued by a sample group of social networking and social gaming apps to reach its conclusion.

The sample group offered a “combined reach of 2.2 million daily active users”, Flurry says. It found that in-app purchases were accounting for over 80 percent of their revenues.

“Admittedly, the idea that consumers acquiring virtual swords, gold coins and respect points can outperform advertising seems counter-intuitive; however, this phenomenon is neither new nor unique to the iOS platform,” writes Flurry’s Peter Farago.

In-app purchasing isn’t yet supported on Android. Virtual goods sales already represent the primary source of revenue for social gaming on Facebook.

“With mobile social game critical mass now rivaling TV prime time viewership, Flurry anticipates a stronger ad revenue generation through mobile social networking and games in 2011,” writes Farago.

In related news, magazine and newspaper apps now appear to have been enabled with an in-app monthly payment model, driving outlets such as the New York Times to offer apps for a free one month trial.