Mobile games last led in-app purchase revenue in a single year back in 2016, with non-gaming apps and platforms surging past them over the past decade. That shift highlights a growing divide between massive download counts and actual financial returns across the global app economy.
An extensive decade-long analysis from AppMagic data, detailed by GamesIndustry.biz, marks the tenth anniversary of the market intelligence provider. The findings show that after 2016, non-gaming services—led by major platforms like TikTok and various AI chatbots—permanently moved ahead in-app purchase revenue. TikTok has captured the title of top-grossing app globally every year since 2020, while ChatGPT emerged as the most downloaded app worldwide in 2025.
Honor of Kings and Free Fire Dominate Gaming Charts
Even as non-gaming tools capture the broader revenue crown, the mobile gaming sector remains heavily anchored by a select group of long-running titles. TiMi Studio Group’s Honor of Kings has led in-app purchase revenue across multiple years following its 2017 debut. The multiplayer online battle arena earned $830 million during its launch year, ranked first in 2017, 2018, 2019, 2022, 2023, and 2026, and ultimately surpassed $1.1 billion in 2026.
On the download side, Garena’s Free Fire has served as a primary installation machine. The title debuted in 2019 with 272 million installs, added 225 million downloads in 2021, reached 269 million in 2024, and pulled in another 221 million installs in 2026. While Free Fire generated no revenue at launch, AppMagic noted that the game has since accumulated $3.3 billion.
Extreme Contrasts Between Downloads and Revenue
The broader pattern across mobile monetization reveals an extreme gap between sheer download volume and financial returns. Among Us accumulated 930 million downloads but brought in only $52 million in revenue. In stark contrast, Umamusume generated $1.6 billion from a mere 19 million downloads.
Only a small fraction of top-grossing games continue to grow their revenue significantly at the highest tier. Micro Fun’s Gossip Harbor: Merge & Story experienced a 95% year-on-year revenue increase between January and October, while Century Games’ Kingshot saw a 126% jump, and Honor of Kings grew by 5%.
