Worldwide consumer spending from Apple’s App Store and Google Play combined reached $65 billion in the first half of 2022. This was up about 1 percent from the $64.4 billion generated by both stores in the same period in 2021, reports Sensor Tower.
While spending continues to climb, velocities have slowed due to the normalization after the supercharged growth seen during the economic downturn seen at the height of the pandemic as well as globally. These factors have led to Y/Y growth in H1 2022, which is nearly 24 percentage points behind the 24.8 per cent growth in H1 2021.
Apple’s App Store generated nearly $43.7 billion from in-app purchases, subscriptions, and premium apps and games in the first half of this year, up 5.6 percent y/y from $41.4 billion. In contrast, Google’s market saw a 7.4 percent Y/Y decline in spending, generating $21.3 billion compared to 1H21’s $23 billion.
This is a reversal of roles from the first half of 2021, when Google Play experienced higher Y/Y growth. Global consumer spending on the Store climbed 30 percent in 1H21 compared to the same period in 2020, while the App Store saw a 22.1 percent increase.
Joining Douyin on iOS in China, TikTok maintained its position as the highest-grossing non-game app worldwide on both the App Store and Google Play. In the first half of the year, consumers spent $1.7 billion on the app, up 85 percent from $920.7 million in the year-ago period. TikTok has now reached around $5.5 billion in total lifetime revenue.
YouTube held steady as the second-highest-grossing non-game app with an estimated consumer spend of $693.6 million. Its cousin from Alphabet’s portfolio, the Google One, came in third with about $614 million. Tinder and Disney’s streaming platform Disney+ rounded out the top five at No. 4 and No. 5, respectively.
Although consumer spending continued to climb yearly in 1H22, app adoption has seen past astronomical growth. In the first half of the year, there were 71.2 billion installs from the App Store and Google Play, down 1.5 percent from 72.3 billion 1H21.
Both marketplaces experienced Y/Y declines, with Apple’s stores witnessing a major decline. Apple’s App Store saw 15.9 billion downloads worldwide, down 2.5 percent Y/Y from 16.3 billion in 1H21.
Global app spend reaches $65 billion in H1 of 2022: report first appeared on BGR India.