Profit Peaks and Plummets: The Third-Party ChatGPT App Saga Unveiled

Imagine a world without the chatter of ChatGPT on mobile devices. Unimaginable, right? It didn't take long for tech-savvy entrepreneurs to seize this opportunity, introducing a flurry of third-party apps. Among them, Ask AI and Genie quickly climbed the ranks, raking in substantial profits. But then came OpenAI's official ChatGPT app in May. The question loomed large: would users stick with these third-party offerings?

In a twist akin to a superhero's debut, these apps quickly raked in profits. May marked a significant milestone when OpenAI introduced its official ChatGPT app, prompting the question on everyone's mind - would users continue to favor third-party alternatives?

The answer, it turns out, was a resounding "yes." To many, especially those outside the tech realm, ChatGPT was a name synonymous with excellence, regardless of the app hosting it. In April, Ask AI boasted a staggering $3.8 million in net revenue, i.e. according to AppFigure, while Genie followed closely with $1.7 million, net earnings after Apple App Store and Google Play Store took their share.

May brought further prosperity, with both apps ascending to $4.5 million and $2.1 million in net revenue, respectively. These figures were nothing short of astronomical for applications riding the ChatGPT wave.

However, the landscape shifted as the official ChatGPT app landed on the App Store. Genie saw a decline in fortunes, while Ask AI continued to thrive. Yet, the narrative took a twist in subsequent months.

Fast forward to the present, and the picture isn't as rosy. Despite Ask AI outperforming the official ChatGPT app in revenue, it faced a significant setback in September, and October projections suggest a continuation of this downward trend.

In terms of figures, Ask AI's net revenue plunged from $4.6 million in August to $3.9 million in September, while Genie's May earnings of $2.1 million dwindled to a mere $400,000.

A key driving force behind their initial growth was the extensive use of paid advertisements across various platforms. However, this practice seems to have waned recently. It leaves us to ponder whether the decrease is a self-fulfilling prophecy or a response to diminishing returns.

In the ever-evolving realm of ChatGPT, one can't help but wonder if there's more to this AI superhero than meets the eye. The saga continues.

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