Apps Witness the Growth of Subscription Revenue

According to the recently revealed official data, subscription revenue went 41 percent up in 2021. It reached a total number of $18.3 billion. App developers are working hard to produce new apps and represent them on Google Play Store or App Store. The new report shows that consumers began to spend more on apps.

Compared to 2020 the raise is incredible. In 2020 consumers spent $13 billion, while in 2021 the number reached $18.3 billion. The data was revealed by Sensor Tower, a well-known analyst. According to them, it is only a small part of the major revenue from the purchases inside the apps in the games and apps. The number continues to grow. Back in 2020, there was only 11.7 percent of the total spending of consumers. The 41 percent increase in 2021 continues the stable growth of in-app purchases and subscriptions. The growth between 2019 and 2020 was 34 percent.

The increase can be partly explained by the pandemic situation around the world. In 2020 the world continues to work from home, use online services, and avoid staying offline.  Users prefer to use online shopping, online streaming services, fitness programs, and even education programs. The modern market provides the services they need. Virtual conferences, schooling, and even meetings with friends became our daily reality, which significantly increased the demand for apps that provide such services.

The US market has similar trends to the whole world. Consumers in the US spent $8.5 billion on non-game apps’ subscriptions. It is 44 percent more than $5.9 billion spent in 2020. Before that, the growth was 28 percent during the year. In general, users from the US spent over $40.7 billion on purchases within the app.

Do you pay for app subscriptions? Which apps are your favorites? Share your opinion in the comments below.