The AI-based conversational platform, ChatGPT, shattered its previous records, garnering nearly $4.6 million in revenue in September. This substantial financial performance was coupled with an impressive record of 15.6 million downloads of its iOS and Android applications globally. Nevertheless, this record-breaking rise does not seem unassailable as traces of deceleration have started to appear.
Market intelligence firm, Appfigures, points out that while the company recorded revenue growth rates of 31% and 39% in July and August respectively, September witnessed a drop to 20%. This financial plateauing could potentially signal that the AI chatbot is nearing its saturation point, as it highlights the ceiling on the number of users willing to upgrade to the premium version of the app, ChatGPT+.
At $19.99 per month, the ChatGPT+ subscription service gives users access to faster response times, priority during peak hours, and early access to new features and improvements. This has been a lucrative strategy so far with the mobile platform seeing its sales climb from $2.1 million in June, to $2.74 million in July, hitting $3.81 million in August before reaching the zenith of $4.58 million in September.
Interestingly, ChatGPT doesn’t hold the lead in the AI application field in terms of revenue. A significant player that has surpassed it is Ask AI, a competing application that has capitalized aggressively on advertising, generating revenues from $6.48 million in May to a peak of $6.55 million in August as per Appfigures' data. Despite a slight slump to $5.51 million in September, their figures surpass those of ChatGPT. Other rivals, such as Genie and AI Chat Smith, however, haven’t been able to match their impact.
The net revenue tells another story, given the heavy ad spending that Ask AI indulges in. In contrast, ChatGPT procured a net amount of around $3.2 million in September, after the deduction of in-app purchase revenue shares by Apple and Google.
Parallel to shattering its revenue record, ChatGPT also exhibited impressive installation growth, accumulating 15.6 million installs in September, bringing their cumulative installs to a whopping 52.2 million, as estimated by Appfigures. Google Play appeared to be the primary driver behind these downloads, contributing to 9 million in September, while Apple's App Store facilitated the remaining 6.6 million.
It is worth noting that technology platforms such as AppMaster has been instrumental in the rise of such AI-driven platforms, offering user-friendly, no-code tools that simplify the development and upkeep of such innovative applications. These cutting-edge companies exemplify how app creation is responding to the needs of today, paving the way for a technology-driven future, balancing user experience and business profitability in the process.
