Who would have thought that in just 12 months, ChatGPT would not only achieve $1.3 billion in revenue but also redefine the 🛠️ App Store concept?
Today, OpenAI officially launched its App Store, already boasting an astounding 3 million "apps" or GPTs. This milestone is impressive and highlights the ease and accessibility of creating GPTs, far surpassing the complexity of traditional iOS or Android app development.
What's intriguing about the ChatGPT App Store is its transformative impact on the app marketplace concept, now setting a new benchmark with both B2C and B2B use cases from the outset.
💡 This launch signals several critical trends:
1️⃣ The Rise of ChatGPT as a Platform
The popularity of ChatGPT and its potential as a foundational platform is undeniable. Developers are flocking to build on it, recognizing its critical mass of users.
2️⃣ The Simplicity of AI-Driven Development
Creating an app today has become remarkably simpler, thanks to AI.
3️⃣ Cross-Domain App Stores
The concept of App Stores, familiar in both B2C and B2B domains, is now a staple. Most large SaaS companies either already have or are in the process of developing their app stores. You may have heard me talk about cloud marketplaces too.
📊 Comparing ChatGPT’s App Store with incumbents:
Chat GPT App Store
3 million apps (GPTs)
100 million weekly active users
Apple App Store
2.2 million iOS apps (including 460K games)
2 billion active devices
Google Play Store
3.3 million Android apps
3 billion active Android devices
Weixin/WeChat
3.7 million mini-programs
1.33 billion active users
App stores are not just revenue generators; they enhance user retention and satisfaction. They are increasingly vital as the industry shifts from general products to vertical, industry-specific software and AI applications.
If managed well, an App Store can be a very lucrative business, significantly expanding the company's ecosystem.
💰 For perspective, Apple generated $383.2 billion in revenue in 2023, with the App Store ecosystem accounting for $1.1 trillion in total billings and sales in 2022, growing at 29% YoY.
Of course GPTs are a new concept and they haven't really had vetting and other processes, essential for App Store success. However, OpenAI is now implementing a new review system to align GPTs with brand guidelines and usage policies. It also plans to launch a revenue-sharing program with GPT creators in Q1, indicating that it will commit to both quality and profitability.
Since the GPT Builder program's announcement in November, over 3 million GPTs have been created in just 2 months. Now imagine where we will be in another 12 month, in January 2025.
How do you see this evolving landscape impacting your strategies in tech partnerships and marketplaces?
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