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Sensor Tower Report SNS app market insights

[Sensor Tower] [Report] SNS app market insights

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Press release: June 17, 2024
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[Report] SNS App Market Insight
*You can download the full report for free*
With the popularity of short videos and constant updates to
monetization models, revenue from SNS apps continues to increase worldwide. In the first quarter of 2024, the total global IAP revenue of SNS apps will reach $4.5 billion. This was a 19% increase from the same period last year and a new record high.

This report analyzes trends in the number of SNS app downloads and IAP revenue in recent years, the revenue performance of popular SNS apps, and the ranking of popular SNS apps in China, Japan, South Korea, and the Middle East in 2024. Introducing TikTok’s world-renowned achievements and personas.

*This report only aggregates IAP estimates of app store revenue and does not include advertising revenue or revenue from third-party Android markets in mainland China.
Download the full report for free
Global total IAP revenue for SNS apps hits record high
Social media apps continue to increase IAP revenue even as global download growth slows. IAP revenue for the first quarter of 2024 was $4.5 billion, an increase of 19% year over year, a new record high. Even looking at the one-year period from the second quarter of 2023 to the first quarter of 2024, it will grow by 20% from the previous year to nearly $17 billion.
The effectiveness of the monetization model of popular SNS apps stands out TikTok’s IAP revenue from January to May 2024 increased by 26% from the same period last year to exceed $2 billion, as the tipping of coins in the live streaming service greatly contributed to revenue, and the SNS app market is currently leading the pack.

According to the first quarter financial statements of 2024, the number of members of Snapchat’s subscription service “Snapchat+” has doubled from the same period last year to more than 9 million. In addition, Snapchat’s IAP revenue increased 157% from the same period last year due to a 125% increase in viewing time on the short video service Spotlight compared to the same period last year. At Instagram, the increase in the number of subscribers is also driving significant revenue growth, with revenue increasing by 230%.
“Kaishou” tops the SNS app revenue growth ranking in China (iOS) With the release of the short drama service, Kuaishou’s
multidimensional earning power has significantly increased. According to the 2023 Kuaishou Short Drama Data Value Report, the number of paid short drama users of Kuaishou will increase more than 5 times in 2023, and the ranking of SNS app revenue in China (iOS) from January to May 2024 will increase by more than 5 times. “Kaisute” came out on top.

BOSS Naotate, a business-specific SNS app, has increased IAP revenue by 44% as the number of corporate users increases. According to the first quarter financial statements of FY2024, BOSS Naotate’s sales for the period increased by 33% from the same period last year.
“TikTok” tops the ranking of SNS app downloads in Japan and is supported by Japanese users
“TikTok
Lite” was released in Japan in June 2023, and the number of downloads increased rapidly. Along with this, the overall number of downloads of “TikTok” increased by 120% from the same period last year, making it the top SNS app download ranking in Japan.

The number of downloads for Bluesky in Japan skyrocketed after the invitation system was abolished and the game was made available to the public. As a result, it became the SNS app with the highest number of downloads in Japan from January to May 2024.
YouTube remains the most profitable SNS app in South Korea
YouTube has continued to increase its IAP revenue worldwide in recent years due to the influx of creators and the increase in users, and South Korea is no exception. In the first quarter of 2024, YouTube’s IAP revenue in South Korea was close to $32 million, approximately 10 times that of the first quarter of 2019, and it remains at the top of the SNS app revenue ranking in South Korea.

S.M.Entertainment releases two idol promotion apps “Lysn” and “bubble with STARS” is in the top 10 in the revenue ranking. Among them, the cumulative global revenue of “Lysn” has reached $130 million, of which South Korea accounts for 34% and China accounts for 27%.
TikTok’s global cumulative IAP revenue exceeds $14 billion
Sensor
According to Tower data, as of May 2024, the global cumulative IAP revenue of the “short video/live streaming hybrid” app “TikTok” has exceeded $14 billion, making it the non-gaming app with the highest revenue in the world. . At the same time, TikTok’s revenue continues to increase, reaching a record high of $450 million in March 2024. Sensor Tower Audience
According to Insights data, TikTok has a relatively younger
demographic, with 36% of users born after 2000 in the US in the first quarter of 2024, significantly higher than Facebook’s 14%. It’s getting expensive. TikTok personas include digital socialites (people who are active on social media), fashionistas (people who buy clothes and accessories online), and flexible payers (people who delay or split their payments). It can be seen that it is mainly preferred by young users.
Further information can be found on our website:
https://sensortower.com/ja/blog/state-of-social-apps-2024-report-JP Download the full report for free
Introduction to Sensor Tower
Sensor was founded in San Francisco in 2013.
Tower is a company that provides data and analysis environment for mobile apps/games. Trusted by global digital companies such as X (formerly Twitter), Unity, Tencent, and HBO, it is a digital analysis platform that provides store intelligence that helps you understand trends in the mobile market, and advertising intelligence that can be used to optimize your advertising strategy. We provide high-quality insights and advanced customer support for every aspect of mobile.

Sensor Tower was awarded Best Analytics/Best Analytics at Pocket Gamer Mobile Games Awards 2022.
Received the Data Tool Award.
Our Japan office will be relocated to Nippori, Tokyo from the summer of 2023, strengthening our business in Japan, and the number of partner companies is rapidly increasing. We are increasing the number of our staff and will continue to strengthen our customer support.

Sensor Tower Japan Office Representative
Shogo Yachi

Further information about Sensor Tower can be found on our website: https://sensortower.com/ja

Updated information on blogs and reports can be found on Sensor Tower Japan X (formerly Twitter):
https://twitter.com/SensorTower_JP
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