It's hard to say 2024 wasn't the year of AI, and not just for the tech folks but for pretty much everyone. We can see that very clearly by looking at the growth of ChatGPT, the tool most people think about when they hear AI these days.
And by growth, I mean revenue growth:
According to Appfigures Intelligence, users spent a whopping $486M on ChatGPT in 2024. OpenAI kept $340M of that after Apple and Google took their fees. What's very interesting here is that the majority of the revenue came in Q4.
Our estimates show that ChatGPT's mobile app brought in $214M of gross revenue in Q4, which amounts to roughly 43% of the total for the year.
ChatGPT's mobile app launched in May of 2023 to the App Store and a bit later on to Google Play, so comparing totals isn't exactly fair, but I did it anyway, and the difference is massive. Revenue rose 1,033% between 2023 and 2024 showing just how much appetite consumers have for AI.
It's worth noting that the majority of revenue - 82% in 2024 - came from the App Store. Google's share of revenue increased in Q4 by a little, suggesting that adoption by Android users is also rising rapidly.
Our AI report is coming soon and includes an even deeper look into ChatGPT's journey and a very comprehensive look into 1,000+ successful AI apps. Keep an eye out for it.
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.