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In the dynamic world of AI chatbots, ChatGPT, the brainchild of OpenAI, has taken the mobile app market by storm, breaking records for downloads and revenue. Yet, while it's hailed as a market leader, it might not be sitting atop the revenue throne as you'd expect.
Since its launch in May, ChatGPT's meteoric rise has been nothing short of remarkable. Initially an iOS exclusive, it conquered 3.9 million downloads within its maiden month, later soaring to a staggering 23 million downloads by September 2023. Not to mention, its monthly active users surged from a humble 1.34 million in May to a whopping 38.88 million in September.
The most striking feat is ChatGPT's revenue growth; from $352,929 during its launch month, it surged to $1.98 million in September, nearly hitting $2.39 million by October 24th. This surge in revenue showcases the tremendous potential of AI-powered chatbots.
However, ChatGPT doesn't rule the revenue realm uncontested. In September, the AI chatbot arena saw challengers emerge. "Chat & Ask AI" and "ChatOn — AI Chat Bot Assistant" outpaced ChatGPT, raking in nearly $3.38 million and $2.11 million, respectively. Close behind are "AI Chatbot — Nova" and "AI Chatbot: AI Chat Smith" with $1.44 million and $1.72 million in revenue for September.
This competition points to the diversity of the AI chatbot market. There's a significant market for AI apps beyond ChatGPT, with several generic names amassing millions of downloads, capitalizing on effective App Store SEO.
Adding to the mix, a16z-backed startup Character.ai offers a unique twist, allowing users to create their own AI personas. With 2.39 million downloads as of September, it's a noteworthy contender in the chatbot landscape.
Even beyond downloads, these apps are retaining users with impressive Monthly Active User (MAU) numbers. "Chat & Ask AI '' boasts 9.7 million MAUs in September, followed by "ChatOn — AI Chat Bot Assistant" with 3.5 million. Others like "Genie — AI Chatbot AI Assistant," "AI Chat — Chatbot AI Assistant," "AI Chatbot — Nova," and "AI Chatbot: AI Chat Smith'' are also attracting substantial user bases.
Surprisingly, AI photo apps are challenging ChatGPT in their own right. Although operating in a different sphere, these apps give the AI assistant a run for its money across various metrics, including downloads, usage, and in-app purchase revenue. For instance, "Remini" and "Picsart AI Photo Editor" gathered millions of downloads and loyal users.
These AI photo apps often secure more revenue through in-app purchases than ChatGPT. There are several reasons for this, such as the ease of interacting with photos stored on users' smartphones.
While ChatGPT leads the way with 23 million downloads in September, it's crucial to remember that some of these AI photo apps experience viral bursts of popularity, which may not be as enduring. Lensa, for example, went from 23.44 million downloads in December 2022 to 413,814 monthly installs by September 2023.
In the ever-evolving world of AI apps, users tend to explore new features in competing apps. This trend is something to keep an eye on as the AI chatbot and photo app landscape continues to evolve.
In this ever-evolving world of AI apps, the competition remains fierce, with various contenders carving out their niches. While ChatGPT stands as a titan in terms of downloads and usage, revenue-wise, it faces formidable rivals. The world of AI chatbots and photo apps is dynamic, and user preferences constantly shift. As we journey forward, the ultimate champion in this arena is yet to be crowned.
