What types of apps do people pay for?

The mobile app industry continues to thrive, with users increasingly willing to pay for the apps they use.

According to the State of Mobile 2024 report by Sensor Tower, global consumer spending on mobile apps reached a record $171 billion in 2023, marking a 3% year-over-year increase. This growth underscores the significant role that user payments play in the app economy.

Tinder shattered records in 2020, becoming the first non-gaming app to generate over $1 billion in user spending. The dating giant's premium features, which boost visibility and lift match limits, drove this impressive milestone.

Notably, despite only 11% of users opting for paid memberships, they contribute a whopping 60% to the app's revenue, demonstrating the significant impact of Tinder's premium offerings.

Additionally, the rise of streaming powerhouses like Netflix, Disney+, and HBO underscores a profound shift in consumer preferences, as audiences increasingly invest in unique content offerings, live sports, and digital comics.

Disney+ for instance made $8.2 billion in 2023.