BackMoney spent on subscription-based apps grew by 34% in 2020: Report
Revenue from the top 100 earning non-game subscription apps represented about 11.7% of the $111 billion that consumers spent on in-app purchases last year
PremiumNew research data shows that expenditure on applications has increased substantially. Worldwide consumer spending in the top 100 non-game subscription-based apps grew 34% year-over-year from $9.7 billion in 2019 to $13 billion in the year 2020.
The report was published by Sensor Tower, a market intelligence firm. The report suggests that revenue from the top 100 earning non-game subscription apps represented about 11.7% of the $111 billion that consumers spent on in-app purchases last year, the same share as in 2019. In Q4 2020, 86 of the top 100 earning non-game apps worldwide offered subscriptions, down slightly from 89 in Q4 2019.
Spending in the top 100 subscription apps represented about 17.6% of the $33 billion that U.S. consumers spent on in-app purchases in 2020, down 3.4 percentage points from the 21% revenue share they accounted for in 2019. Out of the top 100 earning apps in the U.S., 91 were subscription apps in Q4 2020, down slightly from 93 in Q4 2019.
According tothe study, consumers have historically spent more on the App Store than on Google’s marketplace, and the same holds true for subscription apps. Globally, the top 100 subscription apps on the App Store generated $10.3 billion in 2020, up 32 % from $7.8 billion the previous year. The cohort of 100 top earners on Google Play saw $2.7 billion last year, up 42 % year on year from $1.9 billion in 2019.
Alphabet came out on top this year in terms of subscription app spending, both globally and in the U.S. YouTube was the subscription app leader across both stores, earning $991.7 million in gross revenue globally and $562 million in the U.S. It was also the top-earning subscription app on the App Store, whereas Google One was the top-grossing app on Google’s marketplace with more than $445 million generated globally and $255.7 million in the U.S.
3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!
