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The Top Downloaded Apps in 2022

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Chart of the top 10 most downloaded apps in Q1 2022, based on number of downloads

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The Top Downloaded Apps in 2022

Whether they’re providing a service like ride-sharing or acting as a mere source of entertainment, mobile apps have become an integral part of many peoples’ day-to-day lives.

But which apps are most popular among users?

This graphic uses data from a recent report by Sensor Tower to show the top 10 most downloaded apps around the world in Q1 2022 from the Google Play and Apple App Store.

Social Reigns Supreme

According to the report, total app downloads reached 36.9 billion in Q1 2022, a 1.4% increase compared to Q1 2021.

A majority of the top 10 most downloaded apps were social media platforms, with Meta and ByteDance owning six of the top 10.

RankAppCategory
1TikTokEntertainment
2InstagramPhoto and video
3FacebookSocial networking
4WhatsAppMessaging
5ShopeeShopping
6TelegramMessaging
7SnapchatPhoto and video
8MessengerMessaging
9CapCutPhoto and video
10SpotifyMusic

Meta’s four platforms on the list are Instagram, Facebook, WhatsApp, and Messenger, while ByteDance owns TikTok and video-editing platform CapCut.

Just outside the top 10 are Zoom and WhatsApp Business (yet another Meta-owned app).

TikTok’s Winding Road to the Top

In Q1 2021, TikTok exceeded 3.5 billion all-time downloads, becoming the fifth app (and the first non-Meta app) to reach this milestone. This is impressive considering the app has been banned in India as of June 2020. Prior to the ban, India accounted for 30% of TikTok’s downloads.

India’s not the only country that’s banned the use of TikTok. Pakistan has blocked TikTok multiple times because of concerns over “inappropriate” content. However, it’s worth noting that the bans in Pakistan only lasted a few days before being lifted, and currently, Pakistanis are able to access the platform.

Top 10 Highest Grossing Apps

TikTok isn’t just the most downloaded app in the world—it’s also the highest-grossing non-game app, based on Q1 2022 revenue from the App Store and Google Play:

RankAppCategory
1TikTokEntertainment
2YouTubePhoto and video
3Disney+Entertainment
4Google OneProductivity
5TinderLifestyle
6PiccomaBooks
7Tencent VideoEntertainment
8iQIYIEntertainment
9HBO MaxEntertainment
10LINE MangaEntertainment

TikTok generated an impressive $821 million in consumer spending in the last quarter. The video-sharing platform was the top-grossing app on the App Store, and the second-highest-grossing on Google Play, coming just after Google One.

While none of Meta’s platforms made it onto the top 10 list for gross revenue, these platforms make a ton of money that doesn’t necessarily flow through app stores. In 2021, Meta generated more than $117.9 billion in revenue, with over 97% of that coming from ads.

Growth’s on the Horizon

The pandemic had a massive impact on the app market.

In 2020, app spending on things like premium access, in-app purchases, and subscriptions surged by 30% year-over-year to reach $111 billion.

And while COVID-19 restrictions are easing in most places around the world, app spending isn’t likely to taper off anytime soon. By 2025, spending is expected to grow to $270 billion.

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Timeline: The Shocking Collapse of Silicon Valley Bank

Silicon Valley Bank was shuttered by regulators becoming the largest bank to fail since the height of the Financial Crisis. What happened?

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Timeline: The Shocking Collapse of Silicon Valley Bank

Just days ago, Silicon Valley Bank (SVB) was still viewed as a highly-respected player in the tech space, counting thousands of U.S. venture capital-backed startups as its customers.

But fast forward to the end of last week, and SVB was shuttered by regulators after a panic-induced bank run.

So, how exactly did this happen? We dig in below.

Road to a Bank Run

SVB and its customers generally thrived during the low interest rate era, but as rates rose, SVB found itself more exposed to risk than a typical bank. Even so, at the end of 2022, the bank’s balance sheet showed no cause for alarm.

Summary of the SVB balance sheet at the end of 2022

As well, the bank was viewed positively in a number of places. Most Wall Street analyst ratings were overwhelmingly positive on the bank’s stock, and Forbes had just added the bank to its Financial All-Stars list.

Outward signs of trouble emerged on Wednesday, March 8th, when SVB surprised investors with news that the bank needed to raise more than $2 billion to shore up its balance sheet.

The reaction from prominent venture capitalists was not positive, with Coatue Management, Union Square Ventures, and Peter Thiel’s Founders Fund moving to limit exposure to the 40-year-old bank. The influence of these firms is believed to have added fuel to the fire, and a bank run ensued.

Also influencing decision making was the fact that SVB had the highest percentage of uninsured domestic deposits of all big banks. These totaled nearly $152 billion, or about 97% of all deposits.

ℹ️ The Federal Deposit Insurance Corporation (FDIC) insures up to $250,000 per account, per bank, for depositors.

By the end of the day, customers had tried to withdraw $42 billion in deposits.

What Triggered the SVB Collapse?

While the collapse of SVB took place over the course of 44 hours, its roots trace back to the early pandemic years.

In 2021, U.S. venture capital-backed companies raised a record $330 billion—double the amount seen in 2020. At the time, interest rates were at rock-bottom levels to help buoy the economy.

Matt Levine sums up the situation well: “When interest rates are low everywhere, a dollar in 20 years is about as good as a dollar today, so a startup whose business model is “we will lose money for a decade building artificial intelligence, and then rake in lots of money in the far future” sounds pretty good. When interest rates are higher, a dollar today is better than a dollar tomorrow, so investors want cash flows. When interest rates were low for a long time, and suddenly become high, all the money that was rushing to your customers is suddenly cut off.”

YearU.S. Venture Capital ActivityAnnual % Change
2021$330B98%
2020$167B15%
2019$145B1%
2018$144B64%
2017$88B6%
2016$83B-3%

Source: Pitchbook

Why is this important? During this time, SVB received billions of dollars from these venture-backed clients. In one year alone, their deposits increased 100%. They took these funds and invested them in longer-term bonds. As a result, this created a dangerous trap as the company expected rates would remain low.

During this time, SVB invested in bonds at the top of the market. As interest rates rose higher and bond prices declined, SVB started taking major losses on their long-term bond holdings.

Losses Fueling a Liquidity Crunch

When SVB reported its fourth quarter results in early 2023, Moody’s Investor Service, a credit rating agency took notice. In early March, it said that SVB was at high risk for a downgrade due to its significant unrealized losses.

In response, SVB looked to sell $2 billion of its investments at a loss to help boost liquidity for its struggling balance sheet. Soon, more hedge funds and venture investors realized SVB could be on thin ice. Depositors withdrew funds in droves, spurring a liquidity squeeze and prompting California regulators and the FDIC to step in and shut down the bank.

What Happens Now?

While much of SVB’s activity was focused on the tech sector, the bank’s shocking collapse has rattled a financial sector that is already on edge.

The four biggest U.S. banks lost a combined $52 billion the day before the SVB collapse. On Friday, other banking stocks saw double-digit drops, including Signature Bank (-23%), First Republic (-15%), and Silvergate Capital (-11%).

NameStock Price Change, March 10 2023Unrealized Losses / Tangible Equity
SVB Financial-60%*-99%
First Republic Bank-15%-29%
Zions Bancorp-2%-47%
Comerica-5%-47%
U.S. Bancorp-4%-55%
Fifth Third Bancorp-4%-38%
Bank of America-1%-54%
Wells Fargo1%-33%
JPMorgan-1%-21%

Source: Morningstar Direct. *Represents March 9 data, trading halted on March 10.

When the dust settles, it’s hard to predict the ripple effects that will emerge from this dramatic event. For investors, the Secretary of the Treasury Janet Yellen announced confidence in the banking system remaining resilient, noting that regulators have the proper tools in response to the issue.

But others have seen trouble brewing as far back as 2020 (or earlier) when commercial banking assets were skyrocketing and banks were buying bonds when rates were low.

The whole sector is in crisis, and the banks and investors that support these assets are going to have to figure out what to do.-Christopher Whalen, The Institutional Risk Analyst

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