Video Streaming and Dating Apps Had Record-High Revenues in 2020
Global user spending in apps has hit a record-high in 2020, according to preliminary data by Sensor Tower. Video streaming and online dating services emerged as the most profitable categories in the past 12 months.
TikTok, YouTube and Tinder were placed as the highest earning non-gaming services in the period, with Tencent Video and Disney+ completing the top five. TikTok, alongside its Chinese version Douyin, accumulated $1.2 billion on Apple’s App Store alone, recording more than 600 per cent increase year-on-year. The social media app also ranked as the most downloaded app globally in 2020, followed by WhatsApp and Zoom.
"Estimates show that global app revenue hit $111 billion in the period, up by 30.2 percent year-on-year from $85.2 billion in 2019, as users turned to their mobile devices for education, employment, and entertainment”, mobile insights strategist at Sensor Tower Stephanie Chan explained. The analytics company also noted record numbers in the gaming category, marking $79.5 billion revenue across Google Play and the App Store, up by 26 per cent year-on-year. Despite the rise, mobile games’ share of overall consumer spending recorded a slight drop compared to 2019, “reflecting the growth of categories such as entertainment in the wake of the Covid-19 pandemic”.