ChatGPT's app revenue hits record high, but growth is stalling
What's the story
In September, ChatGPT, the popular artificial intelligence (AI) chatbot app by OpenAI, hit a new milestone with a whopping 15.6 million downloads and $4.58 million in gross revenue worldwide.
However, Appfigures, a market intelligence firm, reveals that revenue growth has dipped from 39% in August to 20% in September.
This suggests that the app might be reaching its peak in terms of users willing to shell out for the ChatGPT+ subscription service, which comes with a $19.99 monthly price tag.
Details
ChatGPT+ subscription service performance
Those who opt for the ChatGPT+ subscription, enjoy perks like faster response times, priority access during busy hours, and early access to new features and improvements.
The service has been a hit so far, with gross revenues jumping from $2.1 million in June to $4.58 million in September.
However, ChatGPT isn't the top player in the AI app revenue game, as rival Ask AI rakes in more cash due to its hefty ad spending.
What Next?
Competitors in the AI app market
Speaking of Ask AI, this ChatGPT competitor has seen its revenue climb from $6.48 million in May to a high of $6.55 million in August, based on Appfigures's data.
Although it dipped a bit to $5.51 million in September, it still outpaces ChatGPT's revenue.
Other competitors like Genie and AI Chat Smith haven't grown as big as Ask AI. It's worth noting that net revenue may vary due to Ask AI's heavy ad spend.
Insights
ChatGPT's installations and revenue distribution
As for downloads, ChatGPT racked up 15.6 million installs in September alone, bringing its lifetime total to an impressive 52.2 million downloads.
Google Play contributed nine million of these downloads, while the App Store added 6.6 million.
Interestingly, the App Store generated more revenue, accounting for $3 million of the total in-app purchases last month.
The US is the biggest market for this AI chatbot app, making up 60% of ChatGPT's revenues.