Global app revenue has taken another giant climb in the past year as it is up nearly a quarter ($17.9 to $21.9 Billion) compared to Q3 of 2018. App store revenue continued to outpace that of Google Play, but both platforms saw over 20% increase annual revenue from Q3 of last year. The top money-making app was Tinder, yet again, which generated $233 million in consumer spending, up 7% over the previous quarter, according to Sensor Tower. After Tinder was two more household behemoths, Netflix and YouTube, both of which have continued to thrive during this era of rising digital activity and spending.
WhatsApp claimed the top spot for most downloads, while TikTok took the second spot as it continues to see explosive growth, particularly with young audiences. It is noteworthy that Facebook and their subsidiaries made up four of the top five most downloaded apps. Mobile games continue to be the cash cow of app revenue as they accounted for $16.3 billion in revenue since Q3 of 2018. We expect app revenue to continue to grow as consumers have continually shown a preference for the versatility of mobile usage and companies continue to invest in their development and monetization.