Pokemon Go Makes $2 Million a Day - Report

Pokemon Go is a free-to-play game supported by microtransactions. According to a new report, the game, despite losing millions of players recently, is still bringing in a lot of money.

Newzoo reports that Pokemon Go continues to bring in around $2 million every day--and this does not include the 30 percent cut that Apple and Google take. When the game launched in July, it was pulling in $16 million in revenue every day, according to the report.

The report also states that Pokemon Go sees around 700,000 new downloads every day. It was announced in September that Pokemon Go reached 500 million downloads. According to Apple, Pokemon Go downloaded more times in its first week than any other app in history.

Newzoo's report claims Pokemon Go has now reached 550 million installs and $470 million in lifetime revenue.

Pokemon Go stands to expand even further in the future, as the game has yet to be released in major markets like China and South Korea.

"Pokemon Go has opened our eyes in many ways. It has refreshed the top-grossing mobile game ranking that has been dominated by a small number of publishers and games for a long time," Newzoo CEO Peter Warman said. "It has proven beyond a doubt that AR can be applied in ways that appeal to a mass audience. Equally important from a business perspective, it has given Niantic investor Google enormous insight and data that it can incorporate into its location-based advertising and services strategy. The fact that Pokemon Go has motivated kids and youngsters to spend more time outside is an additional bonus, even if that means they take their screens with them."

Read the full Newzoo report here.

As of October 4, Pokemon Go sits in the No. 2 position on the iTunes top-grossing chart, only behind Clash Royale. It formerly held the No. 1 spot on the Free apps chart, but currently sits at No. 56.

Looking ahead, Pokemon Go developer Niantic has teased some "exciting features and changes." These have yet to be detailed, but it sounds like a multiplayer battle mode is on the way.