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ChatGPT Mobile App Achieves $4.58M but Growth Slows
ChatGPT Mobile App Achieves $4.58M but Growth Slows.
The ChatGPT mobile app achieved a new record of 15.6 million downloads and $4.6 million in revenue in September.
However, revenue growth rate is gradually declining, falling to 20% in September.
The $19.99/Month ChatGPT+ Subscription Accounts for
The $19.99/month ChatGPT+ subscription accounts for the majority of revenue, but shows signs of market saturation.
Competing app Ask AI spends heavily on advertising but earns more revenue than ChatGPT.
ChatGPT's largest market is the US, accounting for 60% of total revenue.
Sarah Perez@sarahintampa / 4:08 AM GMT+9 • October 10, 2023
Sarah Perez@sarahintampa / 4:08 AM GMT+9 • October 10, 2023
There is both good news and bad news about ChatGPT's mobile efforts. On the positive side, this AI chatbot continues to see growing app installs and revenue, achieving new records in September with 15.6 million downloads and total revenue of approximately $4.6 million across iOS and Android apps worldwide. However, according to new data from market intelligence firm Appfigures, revenue growth is beginning to slow. While revenue growth had exceeded 30% in recent months — 31% in July and 39% in August — it dropped to 20% in September.
The slowdown in revenue growth may be the first sign that ChatGPT is approaching a saturation point among the number of mobile users willing to purchase an upgraded ChatGPT+ subscription. This is a $19.99/month in-app purchase that provides faster response times, priority access during peak hours, and early access to new features and improvements. To date, ChatGPT mobile has generated total revenue of $2.1 million in June, $2.74 million in July, $3.81 million in August, and the latest record of $4.58 million in September.
However, Surprisingly, ChatGPT Is Not
However, surprisingly, ChatGPT is not the largest AI app by revenue. Competing app Ask AI spends heavily on advertising and has climbed from $6.48 million in May — when the ChatGPT mobile version launched — to a peak of $6.55 million in August, declining slightly to $5.51 million in September according to Appfigures data, but that is still larger than ChatGPT. Other competitors such as Genie and AI Chat Smith have not grown as significantly as Ask AI.
Of course, if you factor in Ask AI's advertising spend, net revenue may be a different story. For ChatGPT, after Apple and Google take their respective shares of in-app purchase revenue, it recorded approximately $3.2 million in net revenue in September.
In addition to the revenue records, ChatGPT achieved 15.6 million installs in September, with its lifetime total estimated by Appfigures to have reached 52.2 million. Google Play led downloads, accounting for 9 million in September, while the App Store accounted for the remaining 6.6 million.
As Expected, the App Store Is Leading Revenue
As expected, the App Store is leading revenue, accounting for $3 million of total in-app purchases last month. The US is the largest market for AI chatbot apps, accounting for 60% of ChatGPT's revenue.
This AI news is produced by the online assistant service "TIMEWELL."
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