Not that long ago, meditation apps (aka mental health apps) were one of the fastest growing segments on the App Store and Google Play - both by downloads and popularity.
That trend has been on the negative side for a few years now, and according to our estimates, it reached an all-time low in April. Revenue, however, looks very different.
According to our App Intelligence, demand for Calm and Headspace, which we measure in downloads, is down 61% and 74%, respectively since 2018. And I'm not even trying to push the numbers - 2018 was a pretty neutral starting point. If I wanted that I'd compare April's downloads to Calm's peak, which came in January of 2021.
Number-wise, Calm started with 1.3M estimated downloads with Headspace right below it with 1.2M estimated downloads. That was all the way back in January of 2018.
Headspace has been on a pretty slow downtrend since while Calm rose during the covid years, peaking at 3.4M estimated downloads in January of 2021. That was also the beginning of the end for Calm.
In April of 2024, Calm saw 508K estimated downloads and Headspace just 324K estimated downloads.
If this trend continues, the two will dip into the tens by the year's end.
Revenue looks better but is not trending that well either. Our App Intelligence shows Headspace has earned less in the first four months of the year when compared to 2023. Not by a ton - $19M vs $20M - but it should be the other way around. Oh, and that's net, which means what's left _after store fees.
Calm is doing better. Revenue is up 30% vs 2023, however, the peaks just aren't there.
A slew of competitors, both big and small, have been flooding the App Store and Google Play. Combine that with the "reopening of everything" and you see why this is problematic.
Calm is running aggressive monetization campaigns, which are contributing to the growth, but considering their expensive catalog full of celebrities, I doubt that's enough in the long term.
I'm sure Calm can figure it out, but if you're thinking of building an app for this space I urge you to think twice.
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