ChatGPT’s mobile app continues to achieve remarkable success, as it recently reached a milestone in revenue generation. In the month of September, the AI chatbot amassed a record-breaking $4.58 million in gross revenue, making it the most profitable month yet for the app on both iOS and Android platforms worldwide. This achievement, however, comes with a cautionary note as the growth rate appears to be decelerating.
Key Takeaway
ChatGPT’s mobile app achieved a record-breaking $4.58 million in gross revenue in September, but the growth rate has slowed down compared to previous months. This deceleration suggests that the app may be approaching its limit in terms of attracting new paying subscribers.
Slower Growth Signals Potential Saturation
While ChatGPT witnessed exceptional growth over the past months, with revenue surging by more than 30% in July and August, September saw a decline in the growth rate to 20%. This deceleration in revenue growth might be indicative of the app nearing saturation in terms of the number of mobile users willing to subscribe to the premium ChatGPT+ service. Priced at $19.99 per month, the subscription offers subscribers faster response times, priority access during peak hours, and exclusive early access to new features and enhancements. Despite its relatively high cost, the ChatGPT+ subscription has been popular among users, generating considerable revenue for the app.
Not the Largest AI App by Revenue
Although ChatGPT has experienced tremendous success, it is not currently the highest-earning AI app in terms of revenue. Appfigures’ data reveals that Ask AI, a competitor, surpasses ChatGPT’s revenue figures. This can be partially attributed to Ask AI’s extensive advertising spending. Since the launch of ChatGPT mobile in May, Ask AI’s revenue has increased from $6.48 million to a peak of $6.55 million in August. Although it dipped slightly in September to $5.51 million, it still outperformed ChatGPT in terms of revenue. While other competitors like Genie and AI Chat Smith have not achieved the same level of success as Ask AI, it is essential to consider the net revenue, taking into account Ask AI’s advertising expenses.
Impressive Installations and Revenue Composition
Aside from the revenue milestone, ChatGPT also experienced 15.6 million app installations in September alone, bringing its lifetime total to an estimated 52.2 million installations. Google Play accounted for 9 million downloads, while the App Store contributed the remaining 6.6 million. Nevertheless, the App Store dominated in terms of revenue, as it generated $3 million in in-app purchases last month. Demonstrating its global appeal, the United States remains the largest market for ChatGPT, contributing 60% of the app’s overall revenue.
