To keep your account open and avoid losing it, you need to take action now, according to a new report from the Consumer Financial Protection Bureau.
The report, released Wednesday, found that consumers are spending more time than ever on their mobile apps and the number of apps that are in the top 10 most popular are growing by more than 10 per cent each month.
The CFPB’s Mobile App Review Panel (MACP) found that more than 2.2 million apps were in the Top 10 of the top 100 apps on Apple’s App Store and Google Play in the second quarter of 2017.
The majority of apps, with more than 1.4 million, are paid apps.
While that may sound like a lot, in fact, more than half of all apps are paid for by users, the CFPBS report said.
It found that the most popular paid apps are Uber, Airbnb, TripAdvisor and Yelp, with the majority of them making up about three-quarters of the total.
In the past year, app downloads have increased more than 300 per cent compared to the same period last year, the report found.
The panel also found that users are spending on average nearly four times more than they did last year on their Android devices, as they are spending twice as much on apps than on desktop computers, and nearly twice as on iPhones.
The top 10 apps for smartphone use by users are: Uber, Yelp, Trip Advisor, Tripwire, Airbnb and Airbnb for Android, Airbnb for iPhone and Airbnb app for Apple iOS, while the top 20 apps are: TripAdviser, Airbnb app, TripWire app, Uber app, Airbnb site for Android and Airbnb site in Apple iOS.
For Android, the top 50 apps are all free.
For iOS, the bottom 50 apps have ads.
For the first time, the most downloaded mobile apps in the U.S. are Uber for Android (3.5 million downloads), TripAdvisors app for Android with more then 1.3 million downloads, TripSpark app for iOS with more 500,000 downloads and Airbnb website for iOS.
The majority (64 per cent) of mobile apps were launched in the first quarter of 2018.
Of the apps that were launched this quarter, nearly three-fourths of them are paid and more than a third are paid on an ad-supported model, according the report.
The top 10 paid apps include Uber, Trip Advisor, Trip Wire, Airbnb website, Airbnb platform and TripAdverity.
The bottom 10 paid mobile apps are TripAdvocacy, TripWise, TripTrip and TripNet.
For Android the top 25 apps are Lyft, Airbnb (with more than 7,000,000 users), TripWire, TripNet, Airbnb service for Android.
For iPhone the top 40 apps are Apple TV, Airbnb with more 810,000 download and TripWire for iOS site with more 5,000.