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Hey Adam,

Happy Friday 😎 

If you missed last week’s action-packed newsletter, you can check it out here.

Mobile Signal
Rent the Runway (RENT) is scheduled to report earnings on 4/12. User sessions of its mobile app are up 56% YoY but down 6% QoQ.
App Acquisition
Savvy Games Group will be acquiring Scopely, a top mobile games publisher, for $4.9 billion. The company has generated $252 million via IAP revenue over the past 365 days.
App Acquisition
Acorns has acquired GoHenry, a banking app for children and teens. The app has been installed 6.4 million times since launch in 2014.
twitch fallin@2x
Gently down the stream

The number of new users coming to Twitch has been falling for two years. There have also been reports of its viewership being in decline. Why might this be happening? Like Peloton and other companies, it could be dealing with a pandemic hangover where people binged too much on it and it no longer fits their daily lifestyle. The larger culprit is likely that top creators are leaving Twitch due its payment structure. Starting in June of this year, after the first $100k in subscription revenue, which will be split 70/30 in the creator's favor, revenue will be split 50/50. Other platforms like YouTube have more preferable revenue splits. Another component could be lost interest due to a newer stance on certain types of gambling. While sports betting and poker are allowed, unlicensed sites streaming slots, roulette, and dice have been banned.

social audio dies@2x
Can you hear me now?

Welp, that was fun. Social audio apps like Clubhouse helped us get through the pandemic but now we're moving on. While sessions are dwindling, downloads are trending downward even faster. Maybe social audio is better served as a feature like with Twitter Spaces. Or maybe we all decided Discord was good enough. Either way, many companies have seen the writing on the wall as Spotify and Reddit both recently announced the end of their social audio endeavors. 

Insights & Updates
Top QSR apps in the U.S. for March 2023 by Downloads
The top 10 quick-service restaurant apps in the U.S. were downloaded 10.8 million times in March, 2.85 percent more than those the month prior. Year-over-year in the month of March, downloads of the top 36 quick-service restaurant apps are up 13 percent.
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Adam Blacker
VP, Insights