According to TradingPlatforms.com apps spending on the Apple app store has dropped by 3.2% in Q3 2022.
Speaking on the findings, Edith Reads, TradingPlatform’s analyst, says: “Apple’s app store has been going through a tough time recently. This is a worrying trend for Apple, as it shows that people are not willing to spend as much money on their apps.”
Reads continues: “Apple will need to find a way to encourage people to spend more on its app store if it wants to maintain its lead over the Google store. Otherwise, it risks losing its position as the top app store.”
TikTok leads in revenue and downloads
The most successful non-game app worldwide in terms of revenue was TikTok. The total amount of money spent by customers on the app was $914 million. On the App Store, TikTok came at the top for revenue, while Google Play put it in second place after Google One. It demonstrates that the popular app for watching short videos is nowhere near the end of its run of popularity.
TikTok’s downloads have skyrocketed to over 2 billion, putting it in the lead position. The app displaced Instagram, which had previously held the position.