Q3 2025 Digital Market Index
Despite economic headwinds, Q3 2025 was one of strong performance across the mobile app and digital advertising ecosystem. While tariffs put a damper on certain categories, others were able to persevere and achieve growth, even in the face of rising costs. Our Q3 2025 Digital Market Index report takes a granular look at the last quarter’s performance across top markets, categories, apps, and games — before diving into an analysis of the digital advertising realm, and finishing off strong with key insights on retail media. You won’t want to miss this intel!
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Here’s a sneak peek of the highlights:
Top Markets - The US generates more IAP revenue than the next five markets combined, while Japan was the only market among the top 20 by IAP revenue to see a YoY decline.
Top Categories - Media & Entertainment leads mobile revenue, with Software apps also driving significant growth.
Top Apps - ChatGPT has quickly flown up the top charts, ranking #2 by IAP revenue in Q3 2025, just behind TikTok — it ranked #16 only a year ago.
Top Games - "Kings" were a popular theme among the top games by IAP revenue, including two new entrants to the top 10 this quarter: Clash Royale and Kingshot.
Digital Advertising - Digital ad spend in the US reached $36 billion in Q3 2025 with 4 trillion impressions, and a strong YoY growth of 12% in spend and 8% in impressions.
Retail Media - Retail media ad impressions in the US climbed 7% YoY to 72 billion across top retailers like Walmart and Target.