Industry News, Research

App Annie’s Top 52 Mobile App Publishers – But Who is Missing

Facebook is the app publisher to top App Annie's top 52 mobile app publishers

Last month, App Annie released it’s annual index of the top App Publishers in the mobile eco system. This is a tradition that App Annie has been going at for 3 years now. The winners not just get recognition but are also getting a very nice present. You can find the full list for 2016 in the image below as well as in the table where I also added some revenue numbers based on the companies financial reports.

App Annie used IAP revenue as the criteria for the list

There are obviously many ways to compare between companies and App Annie had to select one. Based on my analysis, App Annie is using revenues as the index in this list. This means that a publisher with 4.5B total downloads to date is not in the list while Miniclip is closing the list with a reported downloads number of 500M across all titles. That’s a fair decision, revenue is more important than downloads in the eyes of most people.

The other choice that App Annie made is a bit odd in my opinion. App Annie is ignoring ad revenue and is only measuring IAP revenue for the Index. It seems that Supercell and MZ are high on the list without any advertising revenues while companies who relay only on ad monetization are not on the list at all. Sure, the industry has been focused on In-App Purchases as the main monetization model but even App Annie reports that this is all changing.

App publishers who monetize with ads like Facebook were ignored

The one app publisher that is clearly missing from the first spot is Facebook. They are obviously the #1 app publisher in the world. In 2016, the company made $22.5B from mobile advertising revenues out of their total $27.6B. One might say that Facebook is a tech giant that shouldn’t be on the list but if you look at the company who currently holds the first spot on the list – it is Tencent. Tencent has almost twice as many employees and a similar size user base on it’s messaging and social networking apps as Facebook.

Here are a few companies that should have made the list based on publicly available information:

Company Headquarters IAP Revenue Ad Revenue Total Mobile Revenues
Facebook United States - $23B $23B
Twitter United States - $1.8B $1.8B
Cheetah Mobile China $61M $500M $561M
Snapchat United States - $348M $348M

Another company that would probably make the list but we couldn’t find public revenue number is Outfit7. The company was recently acquired for $1B which suggests an annuarl revenue of at least $250M based in industry benchmarks such as the acquisition of King.com with a multiplier of 3.3x ($2B reported in 2015 and valuation of $6.6B).

Google would also easily make this list with mobile apps such as YouTube, Chrome and the Search app. However, they are the operators of the Google Play App Marketplace and are also in the business of selling Android based phones such as the Nexus and the Pixel so they should be excluded from this race.

The top 52 publishers according to App Annie

Below you can find the table of App Annie’s top 52. I added the revenue stats for some of the public companies so you can see what are the thresholds for different spots in the list.

# Publisher Headquarters IAP Revenue Ad Revenue Total Mobile Revenues
1 Tencent China $15.7B $3.9B $21.9B
2 Supercell Finland $2.3B - $2.3B
3 NetEase China $4B $0.3B $4.3B
4 MZ United States
5 Activision Blizzard United States $1.6B - $1.6B
6 Mixi Japan
7 Line Japan $840M $360M $1.2B
8 Bandai Namco Japan
9 Netmarble South Korea
10 Niantic United States
11 GungHoOnline Entertainment Japan
12 Square Enix Japan
13 Electronic Arts United States
14 Sony Japan
15 Elex Technology China
16 COLOPL Japan
17 GAMEVIL Sourt Korea
18 Ceasers Entertainment United States
19 CyberAgent Japan
20 DeNA Japan
21 Zynga United States $443M $157M $600M
22 KONAMI Japan
23 Chrchill Downs United States
24 InterActiveCorp (IAC) United States
25 Spotify Sweden
26 SEGA SAMMY Japan
27 IGG China
28 Perfect World China
29 Kabam United States
30 NEXON Japan
31 Time Warner United States
32 Playrix Russia
33 Happy Elements China
34 Snail Games China
35 Netflix United States
36 Glu United States $160M $40M $200M
37 Baidu China
38 Scientific Games United States
39 GREE Japan
40 International Game Technology United States
41 Scopely United States
42 gumi inc Japan
43 Marvelous Japan
44 Microsoft United States
45 Klab Japan
46 Aristocrat Australia
47 G-bits China
48 Vivendi France
49 Kunlun China
50 Long Tech Network China
51 Ateam Japan $207M - $207M
52 Miniclip Switzerland

This table is also available as a google spreadsheet here

Here is AppAnnie’s original list in an infographic format.

App Annie Top 52 Publishers of 2016: Tencent, China Supercell, Finland NetEase, China MZ, United States Activision Blizzard, United States Mixi, Japan Line, Japan Bandai Namco, Japan Netmarble, South Korea Niantic, United States, GungHoOnline Entertainment, Japan Square Enix, Japan Electronic Arts, United States Sony, Japan Elex Technology, China COLOPL, Japan GAMEVIL, Sourt Korea Ceasers Entertainment, United States CyberAgent, Japan DeNA, Japan Zynga, United States KONAMI, Japan Chrchill Downs, United States InterActiveCorp (IAC), United States Spotify, Sweden SEGA SAMMY, Japan IGG, China Perfect World, China Kabam, United States NEXON, Japan Time Warner, United States Playrix, Russia Happy Elements, China Snail Games, China Netflix, United States Glu, United States Baidu, China Scientific Games, United States GREE, Japan International Game Technology, United States Scopely, United States gumi inc, Japan Marvelous, Japan Microsoft, United States Klab, Japan Aristocrat, Australia G-bits, China Vivendi, France Kunlun, China Long Tech Network, China Ateam, Japan Miniclip, Switzerland
As well as in a text format:

  1. Tencent, China
  2. Supercell, Finland
  3. NetEase, China
  4. MZ, United States
  5. Activision Blizzard, United States
  6. Mixi, Japan
  7. Line, Japan
  8. Bandai Namco, Japan
  9. Netmarble, South Korea
  10. Niantic, United States,
  11. GungHoOnline Entertainment, Japan
  12. Square Enix, Japan
  13. Electronic Arts, United States
  14. Sony, Japan
  15. Elex Technology, China
  16. COLOPL, Japan
  17. GAMEVIL, Sourt Korea
  18. Ceasers Entertainment, United States
  19. CyberAgent, Japan
  20. DeNA, Japan
  21. Zynga, United States
  22. KONAMI, Japan
  23. Chrchill Downs, United States
  24. InterActiveCorp (IAC), United States
  25. Spotify, Sweden
  26. SEGA SAMMY, Japan
  27. IGG, China
  28. Perfect World, China
  29. Kabam, United States
  30. NEXON, Japan
  31. Time Warner, United States
  32. Playrix, Russia
  33. Happy Elements, China
  34. Snail Games, China
  35. Netflix, United States
  36. Glu, United States
  37. Baidu, China
  38. Scientific Games, United States
  39. GREE, Japan
  40. International Game Technology, United States
  41. Scopely, United States
  42. gumi inc, Japan
  43. Marvelous, Japan
  44. Microsoft, United States
  45. Klab, Japan
  46. Aristocrat, Australia
  47. G-bits, China
  48. Vivendi, France
  49. Kunlun, China
  50. Long Tech Network, China
  51. Ateam, Japan
  52. Miniclip, Switzerland
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