Twitter's Recurring Revenue Grew Double Digits in August
This is a single insight from This Week in Apps #129 - Twitter's Finally Growing (its Revenue). Check out the full article for more insights.
Speaking of Elon! August is behind us which means it's time to take a look at Twitter's in-app revenue. I've been doing this every month since Twitter officially made this available to users because I think it could become an important revenue channel. If done right.
The last few months have not been great for revenue growth, but things changed in August!
Twitter's revenue has grown fairly steadily and at a nice pace earlier in the year, but June and July have been very slow. And by that I mean revenue growth rate of just 1% in June and 5% in July. A sharp decline from May's 17% growth and April's 18% growth, and if we zoom out a bit more, the 29% it saw in January.
Between a weird recession and a circus-like takeover, it's easy to see how some things would get put on hold. Not ideal, but understandable.
But it looks like that pause was undone in August as Twitter's in-app revenue grew by 24%, crossing the half-million mark for the first time!
We estimate August's net revenue hit $573,000 from the App Store and Google Play. As you might expect, the App Store was responsible for most of that revenue, about 90% in total, which has been the average for the app since it started charging. Oh, and that's net revenue, meaning what they get to keep for Twitter Blue and share with creators for Super Follows.
Twitter's revenue might be growing slowly, but in the process has shown other platforms that in-app revenue is a good idea. Platforms like Snapchat, which offers less and earns more...
I'm glad things are getting back to normal for Twitter, but still think this is way underperforming. One of these days Twitter will really try, and then we'll see serious growth.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.