Consumer spending on mobile apps grew dramatically, spurred in no small part by the lockdowns that were implemented to stem the spread of the novel coronavirus. According to a preliminary report released by Sensor Tower, the first half of 2022 has seen global app spends increase by around 1% with all things having been considered and taken into account. That has resulted in them crossing $65 billion for the first time in history.
With all of that having been said and now out of the way, it is important to note that this growth rate falls well short of the 24.8% year on year growth rate in app spending that was seen in the first half of 2021. Additionally, the growth in consumer spending for apps has been seen more strongly on the Apple app store, with its revenues for the first half of 2022 increasing to $43.7 billion compared to $41.4 billion during the same period in 2021.
Google, on the other hand, has barely seen any growth. In the first half of 2021, apps on the Google Play Store brought in around $23 billion in revenue. In spite of the fact that this is the case, their current earnings for the first half of 2022 hover at just over $23.1 billion, indicating that this app store’s growth rate is negligible at best.
As for the specific apps that are bringing in the most revenue, TikTok turned out to be the biggest winner overall. It was also the highest revenue earner on the App Store, though it was bumped down to the number 2 spot on the Play Store rankings with Google One supplanting it to attain the highest position on that list.
TikTok’s revenue from consumer spending was $920.7 million a year ago, and it has increased a massive 85% to reach $1.7 billion in the first half of 2022 alone. The short form video streaming and social media app has now earned over $5 billion in revenue, and such a dramatic growth rate means that it might soon replace more established platforms in terms of total consumer spending in the short term.
However, one of TikTok’s main competitors, YouTube, has been seeing some solid revenue growth too. It is the second highest earning non-gaming app overall as well as on the App Store, with its total earnings touching $700 million or $693 million to be precise.
Google is also doing fairly well with Google One, with this new app bringing in a healthy $614 million in revenue. Hence, while Google is losing the total consumer spending race, its own apps are performing admirably.
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With all of that having been said and now out of the way, it is important to note that this growth rate falls well short of the 24.8% year on year growth rate in app spending that was seen in the first half of 2021. Additionally, the growth in consumer spending for apps has been seen more strongly on the Apple app store, with its revenues for the first half of 2022 increasing to $43.7 billion compared to $41.4 billion during the same period in 2021.
Google, on the other hand, has barely seen any growth. In the first half of 2021, apps on the Google Play Store brought in around $23 billion in revenue. In spite of the fact that this is the case, their current earnings for the first half of 2022 hover at just over $23.1 billion, indicating that this app store’s growth rate is negligible at best.
As for the specific apps that are bringing in the most revenue, TikTok turned out to be the biggest winner overall. It was also the highest revenue earner on the App Store, though it was bumped down to the number 2 spot on the Play Store rankings with Google One supplanting it to attain the highest position on that list.
TikTok’s revenue from consumer spending was $920.7 million a year ago, and it has increased a massive 85% to reach $1.7 billion in the first half of 2022 alone. The short form video streaming and social media app has now earned over $5 billion in revenue, and such a dramatic growth rate means that it might soon replace more established platforms in terms of total consumer spending in the short term.
However, one of TikTok’s main competitors, YouTube, has been seeing some solid revenue growth too. It is the second highest earning non-gaming app overall as well as on the App Store, with its total earnings touching $700 million or $693 million to be precise.
Google is also doing fairly well with Google One, with this new app bringing in a healthy $614 million in revenue. Hence, while Google is losing the total consumer spending race, its own apps are performing admirably.
