Canva Becomes One of the Highest-Earning Apps in the US
This is a single insight from This Week in Apps #133 - Already Breaking Records. Check out the full article for more insights.
Canva is one of those apps that if you need the functionality you know about it, and if you don't you probably don't... That's why its latest milestone surprised me a bit. A little more than a bit!
Canva hit its highest month of revenue ever!
In case you're not familiar, Canva is a simple graphics app aimed at non-designers who need to design. It offers templates for pretty much everything, from YouTube thumbnails and Instagram stories to a video editor into a phone, and even has logos.
How much do you think all of that is worth?
I can tell you - Our estimates show $9.8M in net revenue, meaning after Canva parted with Apple's and Google's share, in August alone. That's right!
This number is impressive all on its own, but what's even more impressive is the direction of Canva's revenue growth trend, which is strongly up-and-to-the-right.
With a few minor exceptions, revenue has grown every month since the beginning of 2019.
It ended 2018 with net revenue of a little over a million and so far in 2022, which isn't close to over, already earned $77M of net revenue. And just so we're clear, this is after Apple's and Google's fees.
I've talked about photo and video editors being big businesses before, and it makes sense as more consumers shift away from laptops and desktops to doing (almost) everything on their phones. Canva is a great reminder that even pros are moving in that direction.
I see a lot of opportunity here.
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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.