The app industry is constantly growing with massive consumer spending and a record number of downloads. Both Google Play and iOS stores joined to provide a boost in the app industry. Global spending across Google Play, iOS, and 3rd party Android app stores was boosted by 19% in China and reached $170 billion.
Moreover, downloads of apps also increased up to 5% and reached 230 billion in 2021. Mobile Ad spending lifted 23% year-over-year and reached $295 billion. The major reason behind the bloom was increased consumer spending on apps. A research report says the average Americans daily spent 4 hours watching TV.
Why do people spend more time on Mobile Devices?
But they are now spending up to 5 hours on their mobile devices in 2021. Most of them aren’t the heaviest mobile users in the world. In 2021, most users in South Korea, Brazil, and Indonesia markets have crossed 6 hours per day in mobile apps. However, apps are considered an excellent way to spend free hours, but they can grow to present massive businesses.
Around 234 apps and games produced more than $100 million in consumer spending in 2021. 14 apps out of 234 topped and generated $1 billion in revenue and marked a 20% increase compared to 2020. However, 194 apps and games earned $100 million in 2020 but only 9 apps marked $1 billion.
Elon Musk purchased $3 billion Twitter Shares
Moreover, This Week in Apps provides a path to move forward with this rapidly moving industry. It includes the latest inventions from the world of apps such as news, updates, mergers, and startup funding. Elon Musk purchased massive shares of Twitter last week worth $3 billion and announced joining Twitter’s Board.
Now, Musk needs to purchase the entire company. He said in his offer letter that Twitter should be transformed into a private company. However, Twitter is trying to refuse Musk’s bid and doesn’t need to sell the entire company. Musk warned he would reconsider his position as a shareholder of Twitter if the company rejects his bid.
Musk needs to buy the entire Twitter Company
Elon Musk appeared at a TED event and informed them he isn’t sure he will originally acquire it. Musk is now playing with Twitter or giving himself a couple of minutes of attention. He said Twitter has become a de facto standard firm. So, it is essential that people have reality and understanding. They are looking to speak freely within the boundaries of the law.
Apple CEO Tim Cook joined an event to call out companies as their business structure is built on mining users’ data. However, the privacy changes in Apple’s App Store remarkably earned $10 billion. Cook also repeated Apple’s ground against an exercise of loading apps onto mobile devices from outside the App Store.
Apple App Store earned $10 billion with Privacy Changes
However, Google has already enabled its users to install Android apps outside the Play Store. But the company has firmly outlasted that idea. The company said it puts the privacy and security of users at risk from criminals. The company published a document last year that explained that loading apps outside the Play Store could increase scams and malware.
It would override the consumer advantages of substitute app stores with decreased fees and developers will not pay Apple’s commissions. Apple’s position is more focused to maintain its powerful grip on the mobile app ecosystem and its associated App Store revenues. Moreover, Epic Games will appeal the ruling of a lower court over the non-competitive business model of the App Store.
