App revenue from mobile phone users around the world climbed to new levels in the first half of this year, reaching nearly $ 65 billion (approximately Rs 482,550 crore), market tracker Sensor Tower reported on Monday.
Apple and Google saw their mobile app stores thrive as the Silicon Valley giants continued to be criticized for the power they wield in their markets.
Preliminary data from Sensor tower points that $ 64.9 billion (roughly Rs 481,680) was spent on the App Store and Google Play in the first six months of this year, up 25 percent over the same period in 2020.
Sensor Tower has predicted that $ 41.5 billion (approximately Rs 3.08,000 crore) will be spent on the Apple App Store during the first half of this year on subscriptions and apps, including in-game purchases such as virtual items for game characters.
Google Play is expected to bring in a total of $ 23.4 (roughly Rs 1,740) by the end of June.
Video clip-sharing sensation TikTok has become the most profitable non-gaming mobile app with over $ 920 million in user spending (Rs.6,830 crore), according to Sensor Tower, up 74 percent from the first six months of last year. of the year.
Google-owned video streaming platform YouTube was the second largest source of non-gaming revenue, with users spending about $ 565 million (roughly Rs 4,190 crore) on it, according to a market tracker.
Global spending on mobile games reached $ 44.7 billion (roughly Rs 3,311,800 crore) in the first half of this year, up nearly 18 percent over the same period in 2020, according to Sensor Tower.
“Although consumer spending on mobile games is growing more slowly than last year, this does not indicate a downturn in the industry, but rather a normalization following a surge in interest during the extreme circumstances of the COVID-19 pandemic,” Sensor Tower said in a posting.
According to the market tracker, Chinese internet giant Tencent had the most lucrative mobile game, Honor of Kings, which grossed over $ 1.5 billion (roughly Rs 11,140 crore) in the first half of this year.
The study shows the growing importance of the so-called “app economy” and comes against the backdrop of criticism of tight control over two major marketplaces by Apple and Google.
The Sensor Tower figures have been made public as a federal court reviews evidence presented in a trial in which Epic Games seeks to break Apple’s tight grip on its App Store and potentially destroy the entire mobile ecosystem.
Epic, the maker of the popular video game Fortnite, is trying to force Apple to open the App Store to third parties seeking to circumvent Apple’s payment processors, and with a commission of up to 30 percent.