Hard to believe, but it’s been 10 years since the app store arrived and forever changed the world of media consumption as we know it. And for as long as the app store has been open for business, Tapjoy has been helping mobile app publishers drive downloads and achieve their business goals.
Our very own chief revenue officer, Shannon Jessup, recently took the time to look back at exactly how this disruptive shift played out, and how Tapjoy played a pivotal role in pioneering its development. It all starts with putting into perspective just how explosive the growth of the mobile app landscape was compared to similar revolutions.
“Relative to other media, app usage took off like a skyrocket. Within five years, mobile app stores saw more than 100bn annual app downloads, with total app revenue exceeding $26bn (£19.7bn). By then, more than 4bn people worldwide owned a smartphone. By comparison, it reportedly took television about 13 years just to reach 50m viewers, and it took radio 38 years to acquire that many listeners.” As Jessup goes on to explain, this unprecedented level of growth was enough to stoke the fires of invention, leading mobile pioneers to pursue new media formats and value exchange structures that would end up shaping the world of modern media consumption.
At the center of these developments was the smartphone’s rapid evolution. “At first it was use of the geo-location feature, enabling real-world businesses such as restaurants, auto dealers or coffee shops to target users who happened to be nearby or to include a call-to-action to find the closest location… Of course, as 2G wireless turned to 3G and 3G to 4G, mobile video exploded as the “killer app” of app advertising.” As hardware capabilities continued to grow, innovators like Tapjoy worked to make more efficient use of the freedoms afforded users by such unprecedented levels of connectivity, leading to the vibrant and more meritocratic advertising landscape we know today.
When we talk about the history of innovation since the dawn of the new millenium, mobile is invariably at the center of the discussion. At Tapjoy, we’re thrilled and thankful to work in such an exciting, rapidly evolving space, and we hope you’ll head over to Mobile Marketing Magazine to read the entire post.