2023 Mobile Spending Hits $100 Billion in Record Time
For the first time ever, mobile spending reached $100 billion by the third quarter of the year. Tinder and Bumble were among the top 10 apps with the highest worldwide consumer spending in Q3 2023.
The $100 billion annual milestone was first achieved in December 2020, and then in October 2021 and October 2022. 2023 is the first year that the milestone has been hit within the first three quarters of the year.
In Q3 of 2023, around $33.6 billion was amassed, according to data.ai. Within that, around $21.2 billion came through the iOS App Store, while the remainder coming through the Google Play Store.
Business of Apps reports that Tinder saw the third-highest consumer spend among all apps worldwide in Q3 2023, placing it behind TikTok and YouTube. Dating app Bumble came in 7th, just ahead of LinkedIn and Duolingo.
Overall it was a successful quarter for Meta, which launched its social media platform Threads. Threads received 150 million downloads in its first week, setting a new record.
The U.S. was a frontrunner in mobile spending, seeing a $600 million increase compared to the same period in 2022. South Korea also saw significant growth, recording $477 million in spending during Q3 2023.
