The mobile gaming industry is evolving and entering a new phase of growth. After a period of rapid expansion during the pandemic, followed by corrections over the past few years, developers and app marketers are refining their monetization, retention, and user acquisition strategies to build sustainable success.
In this report, we analyze trends from 100 leading mobile gaming apps, covering two years of data across both paid and organic channels. This report looks at what’s driving revenue today—and what will define success tomorrow.
LTV Is the New Growth Engine
Over the past year, total installs have remained relatively flat – down just 0.2% – but leading apps are seeing a 6% increase in install-to-payer conversion rates and ARPPU increases of 3% at D30 and 6% at D90.
Revenue is Highly Concentrated
A small share of players is now driving an outsized share of revenue. The top 5% of U.S. iOS payers—just 0.02% of global installs—generate 20% of global gaming revenue across iOS and Android.
Bids Are Spiking for Top Users
Across the industry, median winning bid prices have remained relatively stable; however, the top 1% of iOS winning bids have risen 140% over the last year indicating fierce competition for the most important users.
Top Advertisers Think Differently
Compared to others in the top 100, the Top 5 advertisers stand out by spending 20% more outside the U.S., using 5x more interactive and playable ads, allocating 19% more budget to ROAS-optimized campaigns, and investing 3x more in re-engagement strategies.