NIX Solutions: October 2024 Most Downloaded Apps

As October concludes, the latest rankings for the world’s most downloaded mobile apps have been revealed, with a few notable shifts. However, Instagram remains at the top, a position it has consistently held this year, barring one month. The app saw 52 million downloads across the App Store and Google Play, according to App Intelligence. While this marks a slight decline from September, it still outpaced competitors.

TikTok secured the second spot with 48 million downloads, a marginal increase from September, though not enough to dethrone Instagram. Other top contenders included Facebook, WhatsApp, and Temu, all of which saw higher download numbers than the previous month. Temu’s growth was particularly notable, with a 13% increase in downloads. This surge bumped Threads out of the top five, landing it in sixth place.

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Notable Newcomers: ChatGPT and Meesho

ChatGPT climbed to the seventh spot, with downloads growing from 24 million in September to 32 million in October. This marks a promising trend, but the sustainability of this growth remains to be seen, especially as Google’s Gemini app enters the competition.

Meanwhile, Meesho, a social trading platform serving India, debuted on the charts at the 10th spot with 21 million downloads. Unlike Temu, which ranked fifth, Meesho facilitates trades through social platforms. Its October growth likely resulted from a mega sale held from late September to early October.

Revenue Insights: Record-Breaking Growth

The top 10 most downloaded apps collectively earned $339 million in October, reflecting a slight uptick from September. However, the more remarkable milestone came from the world’s highest-grossing apps, which surpassed $1 billion in net revenue for the first time.

TikTok Leads Revenue Rankings

TikTok emerged as the top-grossing app in October, generating an estimated $269 million in net revenue—an impressive $17 million increase. The platform’s consistent performance has kept it at the forefront of revenue generation.

Other apps in the top five grossing list—YouTube, Disney+, Tinder, and Max—also experienced significant revenue growth, contributing an additional $39 million in total. However, Disney+ is expected to drop in future rankings following its decision to stop offering new subscriptions through the App Store.

CapCut’s Meteoric Rise

A noteworthy entry in the revenue charts is CapCut, TikTok’s video editing app, which leaped to sixth place with $57 million in net revenue. CapCut’s rapid growth has made it a dominant player in its category, accounting for over 40% of the category’s total revenue.

According to App Intelligence, the 10 highest-grossing apps saw their net revenue grow by 6% in October. This marked the first time total revenue exceeded $1 billion—a significant milestone for the app market.

October 2024 has proven to be a dynamic month for both downloads and revenue in the app ecosystem, concludes NIX Solutions. With Instagram maintaining its dominance and newcomers like Meesho making their mark, the market continues to evolve. We’ll keep you updated as more insights and trends emerge in the coming months.