Home Global consumer spending on Apps reached $32.5B in Q1 ’22
Finance News

Global consumer spending on Apps reached $32.5B in Q1 ’22

Edith Muthoni Freelance Writer Author expertise
Fact Checked
Fact Checked
Everything you read on our site is provided by expert writers who have many years of experience in the financial markets and have written for other top financial publications. Every piece of information here is fact-checked. We sometimes use affiliate links in our content, when clicking on those we might receive a commission - at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
We do our best to help you make intelligent financial decisions. Tradingplatforms.com is compensated if you access certain products or services offered by eToro USA LLC and/or eToro USA Securities Inc. and other brokerage companies. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success. This however does not affect our assessments of the brokers, their features, and their overall rating.

Q1 2022 witnessed the tanking of global consumer spending on in-app purchases. That’s per a TradingPlatforms.com analysis. The website has been following trends in that space and concludes that In-app purchases across all niches raised $32.5B in that period. This figure represents a 0.6% gain from the $32.3B that the sector raised in Q1 2021.

Apple’s dominance

Apple’s marketplace had the lion’s share of the revenues, more than doubling Google Play’s. The App Store grew its revenues to 21.8B, a 5.8% uptick based on year-on-year (YOY) terms. The store had recorded gains of up to $20.6B in Q1 2021. Meanwhile, Google Play recorded over $10.7 billion in consumer spending, which is a decline of about 8.5% from the $11.7B it raised in 2021.

TradingPlatforms.com’s Edith Reads links the tanking of revenue in Q1 2022 to due to market corrections. She says, “The onset of the pandemic saw an uptick in in-app spending leading to the hyper-growth in revenues that the sector recorded. Fast forward to now, normalcy is returning after many nations eased their containment measures. Therefore people are redirecting their funds to other priority areas.”

Which were the best performing apps?

TikTok was the top-grossing non-game application overall. It also topped the charts on the App Store and amassed $821 million in combined sales on both stores. However, it played second fiddle to Google One on Google Play. Here the latter emerged top with revenues of roughly $250 million.

Chinese publishers contributed three of the highest-earning games overall and on the App Store. Tencent’s Honor of Kings took the top spot after generating $735.4m. PUBG Mobile was second with an income of $643M, while Geshin Impact was third after earning $551M.

NCsoft’s Lineage W was the top-earning game on Google play. Second and third places went to Coin Master and Candy Crush Saga. That said, mobile games reported a 7.1% fall in consumer spending YOY to stand at $21B. Both stores’ Q1 2022 revenues dropped, with Apple shedding 2.3% or $12.9B of its Q1 2021 figures. Similarly, Google play lost 13.8% or $8.1B.

Marketers spent most on Gaming

America’s top five advertisers spent roughly $786.7M between the first Jan and the twenty-eighth of March 2022. That was an increase of 13.6 % YoY from the $692.3 they incurred in Q1 2021. The category that drew most of the digital advertisers was Gaming which attracted up to 41% of the digital marketing campaigns.

Question & Answers (0)

Have a question? Our panel of experts will answer your queries. Post your Question

Leave a Reply

Write a Review

Your email address will not be published. Required fields are marked *

Edith Muthoni Freelance Writer

Edith Muthoni Freelance Writer

Edith is a dynamic and seasoned finance writer with a focus on crypto and trading - featured on different platforms, including Cryptopolitan.com, Insidebitcoins.com, and Learnbonds.com. With a Bachelor's Degree in Actuarial Science from Strathmore School of Business, Edith combines her education and experience to analyze complex market trends. This solid foundation also enables her to simplify complex trading strategies, delivering informative content, relevant to our fast-paced economy.

Edith's passion for finance and cryptocurrency keeps her at the forefront of industry news. She creates content that empowers her readers. She’s also a personal finance coach, providing expert advice on trading and other intricate finance issues