Global consumer spending in mobile apps and games reportedly increased 15.7% year-over-year in 2024, even as the number of app downloads decreased by 2.3%.
The year’s spending across Apple’s App Store and Google Play reached $127.3 billion, up from $110 billion the previous year, with a decline in Google Play spending being more than offset by growth in the App Store, TechCrunch reported Wednesday (Dec. 18), citing data from Appfigures.
The number of app downloads decreased to about 109.7 billion in 2024, down from 112.3 billion a year earlier, with both app stores seeing a downward trend, according to the report.
Reached by PYMNTS, Appfigures confirmed the numbers in the report.
The report attributed the growth in spending amid a decline in downloads to a maturing of the app economy and new efforts by app developers to earn revenue from subscriptions.
Apps that offer subscriptions accounted for 48% of the app revenue across the App Store and Google Play in 2024, per the report.
Globally, Instagram was the most downloaded app in 2024, while TikTok accounted for the greatest share of consumer spending, according to the report.
This report came two days after Apple released its annual list of the most downloaded free apps in its App Store.
The company said Temu topped the list in 2024 after being ranked first among free iPhone apps and ninth among free iPad apps a year earlier.
Apple also reported that Threads moved up from third place to second in the rankings, TikTok moved up from fifth to third, ChatGPT took the fourth spot in its first appearance on the list, and Google moved up from seventh to fifth.
The report also came on the day that the U.S. Supreme Court announced that it will hear TikTok’s appeal of a law that would see the app banned in the U.S. if it is not sold by its Chinese parent company, ByteDance.
The Court’s scheduling of the arguments in the case for Jan. 10 will allow for a ruling before Jan. 19, which is the date the law is to take effect.
It was also reported Wednesday that Instagram will soon make up half of parent company Meta’s advertising revenues in the U.S., topping $32 billion in U.S. ad revenue next year.
