There's a new face at the top of the charts this week. Prequel isn't a new app, but in the last few weeks inched its way up the top charts in the US and is now sitting just below Facebook and Instagram, and is the only "unknown" app in the top 10 that isn't Wordle.
So what's Prequel? A photo and video editor that offers filters and effects to make those TikTok's better. It also does a pretty good job turning selfies into cartoons. Those cartoons have been floating on social media and fueling even more downloads.
Our estimates show that since the beginning of the year, downloads grew by a multiple of 5, from around 40K to more than 250K this Wednesday.
This is the third app in just a few months to "explode" because of social media, and it won't be the last. Why? Because it's so easy to follow an influencer these days that as a developer, all you need is a few mentions and you can be on your way to glory.
For some, this will happen organically by being at the right place at the right time, and for others it will come from promotional deals. But the end result will be the same.
December saw a curious split: downloads dropped 2% while revenue sat at $1.3B. ChatGPT and TikTok dominated both charts as the mobile industry enters a new maturity phase.
Wall Street bet $2 billion on Polymarket, and downloads surged 1,172% in December. The prediction market banned in 2022 is now where Wall Street looks for signals.