Who AppLovin buys from and sells to
Sells performance ads through its Axon engine across mobile games and, increasingly, the web; no longer owns game studios.
Part of Digital Advertising spending
Buys from 3
- Mobile app publishersin-app ad inventory routed through the MAX mediation
- AppleAAPLiOS App Store distribution and the tracking rules on it
- AlphabetGOOGLGoogle Play distribution and Android ad signals
Sells to 2
- Mobile game studiosuser-acquisition ads, the core of revenue
- E-commerce and web advertisersself-serve ads via Axon Ads Manager
Where the chain could break
- Substantially all revenue comes from one product, the Axon ad engine
- Apple and Google can change store fees or privacy rules that cut its targeting signals
Competes with
- UnityUmobile ad network and mediation (ironSource)
- AlphabetGOOGLAdMob and in-app ad mediation
- MetaMETAapp-install ad budgets
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.