ChatGPT's App Downloaded A Record 15.6 Million Times In September While Revenue Growth Slows – Yahoo Finance
OpenAI's ChatGPT mobile app saw record downloads in September, with 15.6 million installs worldwide.
But revenue growth slowed to 20%, compared to 31% in July and 39% in August. The slowdown could mean ChatGPT is nearing saturation in terms of how many mobile users are willing to pay for the upgraded ChatGPT Plus subscription service and the presence of competitors.
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ChatGPT Plus launched in February and is a subscription-based service that provides users with a range of benefits, including enhanced GPT-4. They receive access to ChatGPT even during peak usage times, faster response times with the app and priority access to any of OpenAI's new improvements for ChatGPT. It helps support free access to ChatGPT users.
Despite the slowdown in revenue growth, ChatGPT still generated nearly $4.6 million in gross revenue across its iOS and Android apps worldwide in September. This is more than any other AI chatbot app, except for Ask-AI, which makes more thanks to heavy ad spending.
The ChatGPT app offers users on-the-go access to generative AI. It also features personalization of preferred language, personality, voice and other parameters while using its intelligence to understand a user's preferences over time and produce more relevant content. The app offers real-time support for users who need help with completing tasks or have questions about the app's capabilities.
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The Ask-AI app is out-earning ChatGPT's app, mainly because of its heavier use of advertising. Alon Talmor founded Ask-AI in 2021. Talmor previously founded the startup BlueTail. He sold BlueTail to Salesforce and joined the company as chief data scientist. The Ask-AI platform improves employees' search results when they query internal knowledge bases and communication sources. It streamlines a typically manual process by using AI to provide users with contextually relevant information, not just links to internal documents.
Another application gaining significant traction is Mode Mobile, a startup that makes it easier for people to make money with their phones.
ChatGPT's net revenue is likely lower than its gross revenue, given that Apple Inc. and Alphabet Inc.'s Google take a cut of in-app purchase revenues. ChatGPT still netted around $3.2 million in September after Apple and Google took their portions. The U.S. accounts for 60% of the ChatGPT app's revenue, as it remains the largest market for the ChatGP.
ChatGPT's mobile app is still growing and generating significant revenue, but this may continue to slow as saturation occurs. Many competitive products and apps also are available, as many other firms launch chatbots and generative AI apps in a race to produce a stand-out AI platform.
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