Changes to tax filing rules + improvements (and lots of ads) have made TurboTax one of the main go-to apps for filing taxes in here the states.
Looking over the last few years, downloads in January and February have been going up and down year after year, but the trend isn't crazy-high. But in 2023 they're going to reach a new milestone.
According to our estimates + my forecast, TurboTax will see more than a million new downloads from the App Store in February. That's the first time the app will cross the million mark.
According to our estimates, TurboTax has already seen an increase of 27% in January, bringing in nearly 900K new downloads from the App Store alone. We expect downloads to grow to 1.2M in February. The highest for the app.
Of the many things that moved in-app in the last few years, this is one of the most relevant to most people. In the US, at least.
It's interesting to see how quickly downloads slop down after February even though the deadline for filing taxes isn't until April. As if late filers don't do it by app (yet).
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.