2024 App Benchmark Report: Key Trends for Subscription Apps

Where the Data Comes From

RevenueCat tracks over $6.7 billion in subscription app revenue. Their data spans apps of all sizes, from small indie projects to top 100 giants, providing a clear view of the subscription app landscape today. This makes the report a critical tool for anyone seeking to understand the app market’s inner workings and apply data-driven strategies to grow their own apps.

Conversion Rates: The Big Challenge

One key finding: only 1.7% of app downloads lead to paying subscribers. This shows just how difficult it can be to convince users to commit to a subscription. Successful apps present their value immediately, guiding users to understand why they should subscribe from their first interaction.

If you’re struggling with conversion, check out our guide on ASO Tips and Strategies for Boosting Your App’s Visibility. We offer detailed steps on how to improve visibility and make a stronger first impression.

Retention: Keeping Subscribers Engaged

Retaining subscribers over time is another challenge highlighted in the report. The average 12-month subscriber retention has dropped by 14%, but top apps still hold on to up to 40% of their users.

The takeaway here is clear: retention is about continuous engagement. Apps that deliver ongoing value—whether through new features, personalized offers, or great user experience—will keep users around longer.

Want to enhance user experience? Read our post on 7 Essential ASO UX Tips to increase your app’s success.

Revenue Insights: Why Top Apps Earn More

The top 5% of newly launched apps make 200x more monthly revenue than those in the bottom quartile, a year after launch. This shows that hitting it big isn’t just about luck—it’s about getting the fundamentals right from the start.

Interested in monetization strategies? Check out our guide to Freemium Monetization in Subscription Apps to see how different pricing models impact revenue and user retention.

Reactivating Churned Users: A Hidden Opportunity

Did you know that 10% of users who cancel their subscriptions re-subscribe within 12 months? This represents a huge opportunity for apps to recover lost users with the right re-engagement strategies. Whether through push notifications, email marketing, or new features, reactivation campaigns can bring users back and boost long-term revenue.

Want to learn more about bringing back lost users? Explore our post on ASO Campaign Services to discover effective win-back strategies.

Pricing Trends: A Growing Standard

The report shows common subscription pricing at $4.99 weekly, $9.99 monthly, and $29.99 yearly across the industry. However, this standardization doesn’t mean there’s no room to experiment. Finding the right pricing model that aligns with your app’s value is crucial for standing out in a competitive market.

Take the Next Step

The 2024 Mobile App Benchmark Report provides valuable insights into the world of subscription apps. Whether you’re looking to improve conversion rates, increase retention, or maximize revenue, our team can help you implement data-driven strategies to outperform your competitors.

Ready to take your app to the next level? Contact Outrank Apps for a free consultation to discuss how these insights can be applied to your app’s marketing strategy.