2022: A Year of Decline for Mobile Apps’ Consumer Spending
For the first time in history, consumer spending on mobile apps declined by 2% in 2022, reaching $167 billion. This is according to a recent annual review of the app economy by mobile analytics firm data.ai (formerly App Annie). The report highlights that this downturn was largely driven by macroeconomic factors, which dampened growth in mobile apps’ consumer spending.
The Top Apps of 2022
While TikTok remained the top app by downloads and consumer spend, Facebook took the top spot for monthly active users. However, Instagram edged out TikTok for the No. 1 spot by downloads. Meta’s apps continue to hold their own in terms of monthly actives, with Facebook, WhatsApp, Instagram, and Messenger taking the top four spots.
The Rise of Video and Dating Apps
Video and dating apps continued to dominate revenue streams in 2022, with TikTok reaching the top spot with more than $3 billion in consumer spending. This is a significant milestone for the app, making it the second non-game app to top $6 billion in all-time consumer spending.
Other Key Findings
- Downloads climbed by 13% year-over-year, driven by popular genres like Simulation Driving and Hypercasual Simulation.
- App downloads were also driven by personal loan apps (up 81%), Buy Now, Pay Later apps (up 47%), Coupons & Rewards apps (up 27%), and Budget & Expense trackers (up 19%).
- However, both crypto trading and investing app categories saw their app downloads drop by 55% year-over-year.
- Gen Z trends highlighted a commitment to video, user-generated content, mindfulness apps, and friend-finding apps like Yubo, Hoop, and Bumble.
The Full Report: A Deeper Dive into Mobile Trends
The full report takes a closer look at other mobile trends in 2022, including those impacting sectors like finance, retail, social, video, food & drink, travel, health & fitness/sports, and more. It also highlights the importance of video and user-generated content for Gen Z users.
Key Takeaways
- Consumer spending on mobile apps declined by 2% in 2022, reaching $167 billion.
- TikTok remained the top app by downloads and consumer spend, but Instagram edged out TikTok for the No. 1 spot by downloads.
- Meta’s apps continue to hold their own in terms of monthly actives.
- Video and dating apps continued to dominate revenue streams in 2022.
- Gen Z trends highlighted a commitment to video, user-generated content, mindfulness apps, and friend-finding apps.
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