data.ai releases its top five predictions for 2024

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Dec 06, 2023, 09:30 ET

SAN FRANCISCO, Dec. 6, 2023 /PRNewswire/ -- data.ai, the leading mobile data analytics provider, released its five mobile Predictions for 2024.

"2024 will see consumers demand authenticity, video-first content, and control of their social media experiences through the power of a dollar. Next year will unleash the next wave of innovation in AI and cement how we consume content." - Lexi Sydow, Head of Insights, data.ai

The Sun Sets on Microblogging - X (Twitter) peaked at 316 million Daily Active Users (DAU), but data.ai forecasts this will drop to 250 million in 2024, along with Meta's Threads, which could fall below 20 million DAU. Video is king as consumers flock to platforms such as TikTok for news.
TikTok To Become Highest Grossing App Ever, Approaching $15 Billion Milestone In 2024 - Next year, TikTok will hit $14.6 billion to sneak past Candy Crush Saga. In 2022, TikTok became the first non-game app in history to beat a game in quarterly consumer spend. This year, spend in TikTok grew 70% YoY — 3.7x faster than Candy Crush Saga.
Gaming (Back) On - Gaming is expected to do a turnaround in 2024 – up 4% to $111.4 billion. This is following a slight decline over the last two years. The growth will be fueled by RPG, Match, Party, and Casino genres, with Match and RPG contributing $1 in every $5. The US will be the largest driver of spending growth, accounting for 40% of aggregate YoY growth.
GenAI To Unleash A Wave Of New App Functionality - Downloads of Generative AI apps grew 9x during 2023. In 2024, data.ai projects that 2.3 billion app downloads will include GenAI functionality, fueling a surge of creativity in genres such as Video Editing and Selfie & Beauty Editor products.
In-App Purchases to Be the Next Battleground for Revenue in Social Media Apps - Historically, social apps monetized via ads. In 2024, more platforms will monetize directly from consumers. TikTok led the way by introducing In-App Purchases to "tip" content creators. YouTube and Instagram have followed suit. The switch will represent a 152% increase in consumer spend for social media apps in 2024.

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