Mobile Gaming Industry Rebounds in 2024 with $82 Billion in IAP Revenue
The mobile games industry rebounded in 2024, with a 4% year-over-year increase in global in-app purchase (IAP) revenue to $82 billion. The United States remained the top market, generating nearly $24 billion, while China led the way in total revenue driven by hits like Honor of Kings and Peacekeeper Elite.
The industry's growth was fueled by increased player engagement and retention. Total games sessions grew by 12%, reflecting developers' focus on long-term engagement. Games that combined IAPs and advertising saw a 37% boost in revenue. Developers embraced Live Ops models, with games using Live Ops contributing 84% of total IAP revenue in 2024.
New app downloads dipped to 49 billion, a 7% YoY decline, indicating that players are spending more time on existing games. Players spent 3.5 trillion hours on mobile games, up 8% from the previous year. TikTok emerged as the leading discovery platform, capturing 67% more ad impressions YoY.
The top ten mobile games markets in 2024 were led by China, the United States, Japan, South Korea, Germany, the United Kingdom, France, India, Brazil, and Russia. Despite a decline in new app downloads, the industry's focus on player retention and monetization drove growth in 2024.
