[Indie Dev Diary #1] March 2024 - Surprising Surge in App Revenue

March 2024 turned out to be a phenomenal month for my app business, likely driven by the annual spring cleaning trend that led to a spike in downloads for home inventory apps like Itemlist.

February to March: A Look at the Revenue Spike

In March, total revenue soared by 78% from February, topping $600 for the first time, excluding Black Friday. This represents a significant milestone. Purchases were consistent throughout the month despite a few flat periods, as illustrated in the graph above.

Monthly Recurring Revenue (MMR) Growth

Although the overall revenue spiked, Monthly Recurring Revenue (MMR) experienced modest growth, going from $127 to $143. This relatively small increase, especially compared to February, is likely because of the surge in lifetime purchases in March.

The number of active subscribers grew from 59 in February to 68 in March.

Excluding the Black Friday spike in November, March recorded the highest month-over-month revenue growth yet. April, on the other hand, has started more slowly, and it seems unlikely to match March's figures.

Wrapping Up

This month's results highlight the importance of understanding seasonality in app markets. Given the impact of spring cleaning, I plan to increase marketing efforts during this season next year to capitalize on similar trends.

This marks my second blog post in the Indie Dev Diary series. For insights from the beginning of my journey, take a look at the first blog post in the series, where I initially shared my revenue metrics.

You can also follow me on X/Twitter and LinkedIn, and subscribe to my newsletter so you don't miss out on my upcoming blog posts 👇