Top mobile gaming apps boost customer LTV by 6% in 2024: Report

As the mobile gaming industry is evolving and entering a new phase of growth following rapid expansion and correction, gaming apps are looking at driving more revenue from their existing users. While the overall install volume has remained at an aggregate level, top apps are improving install-to-payer conversion rates and boosting lifetime value (LTV) by up to 6% year-over-year. These improvements are driven by strategic user acquisition, live operations including in-game events and promotions, and improving the overall app experience.

This was revealed in the latest research report, ‘2025 State of Mobile Gaming: In-App Purchase Trends of Leading Apps’ published by Moloco Research. Observing a shift among the top 100 gaming advertisers, Moloco’s report mentions that the industry’s forward-thinking leaders are now focusing on long-term value for sustainable growth. Examining how top gaming advertisers are adapting to the changing market trends, the report observes that in-game promotions and live events are taking centre stage. Top players, it mentions, are exploring new ways to reach and retain mobile gaming audiences for sustained growth.

“The industry is shifting towards long-term value over short-term volume, requiring a strategic approach to user acquisition and engagement. Advertisers who optimise for high-value users rather than chasing scale will be best-positioned to drive sustainable revenue,” said Tom Shadbolt, senior insights manager, Moloco.

For this research, Moloco’s data scientists analysed in-app purchase (IAP) revenue and user trends of 100 leading global mobile gaming advertisers, who primarily monetise through IAP, and those using hybrid monetisation models. The timeframe for the data was January 2023 to December 2024 from both organic and paid sources.

The research data set included 6,000 crore bid requests, 400 crore installs, 6.5 crore in-app purchase events, $2 billion in-app purchase revenue across 100 mobile gaming publishers that represented 40-50% of global IAP revenue.

With high-value users dominating the total revenues, the top 5% of US iOS high-value users (just 0.02% of global installs) now generate 20% of total global gaming revenue across operating systems. Overtaking Android, and iOS generated 55% of total in-app purchase (IAP) revenue, with USA and smaller global markets driving nearly all growth. Android, however, still represents under half of total global revenue.

According to Statista, the mobile gaming market is projected to cross $126 billion in revenue in 2025. The mobile gaming audience is expected to grow to 2.4 billion players in 2029. As user acquisition (UA) costs rose for top-spending users, the top 1% of highest bid prices for iOS ads surged 140% in 2024. The overall median bid prices remained steady, reflecting intense competition for high-value users, the report notes.

While top markets such as the USA remained key revenue drivers, the less saturated regions provided access to high-value users at lower costs. The five most successful gaming companies were seen using a similar playbook for growth. The successful marketing strategies included focusing on re-engagement, creative optimisation, and global expansion to new markets.

Corvin Ampleev, director of user acquisition at MobilityWare, a mobile game developer and publisher, said, “We believe that sustainable growth comes from delivering lasting joy to players who build long-term connections with our games. It’s exciting to see the industry is increasingly focusing on long-term value—a mindset. This is similar to our approach to marketing, monetisation, and product design.”