OMG you guys I just stumbled upon the coolest stats about Lyft and I’m bursting to share! Seriously it’s like a treasure trove of info – Lyft’s 2023 user and revenue numbers are wild! Get ready for a because this is gonna be epic.
Lyft’s Rider Base: Who’s Cruising?
First things first: how many peeps are actually using Lyft? According to what I found Lyft boasts a massive user base right? But get this – the numbers aren’t all sunshine and rainbows. It’s a bit of a rollercoaster ride through time you know?
I mean think about it – in Q4 of 2020 they had a whopping 12.5 million active riders which is someone who takes at least one ride a quarter.
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But compared to the end of 2019 – yikes! – that’s a pretty significant drop of about 45.41%! That’s a huge fall from 22.9 million active users.
That’s a seriously huge drop-off right?! It makes you wonder what happened? The COVID-19 pandemic really threw a wrench in things.
It seems like current usage is back to about where it was way back in Q4 2017. It’s kind of crazy to think about how much things changed.
Pre-Pandemic Growth vs. Pandemic Plunge
Before the pandemic hit though – from Q4 2016 to Q4 2019 – Lyft’s rider count exploded! They almost quadrupled their active riders! That’s insane growth right? It shows just how popular ridesharing was becoming.
It makes you wonder what kind of crazy growth they could have hit without the pandemic.
That’s pretty wild to think about! It’s almost like comparing apples and oranges now.
Lyft’s Revenue: Dollars and Cents
Now let’s talk money honey! Lyft’s revenue isn’t just about the number of rides; it’s also about how much each ride costs right? The average quarterly revenue per active rider is around $45.40. That’s an increase of 13.67% from the previous quarter – a pretty solid bump! Over the four years before 2021 though the average revenue per rider went up by a whopping 66.05%! That’s a huge increase way more than I was expecting!
Annual Revenue: A Pandemic-Sized Dip
The whole picture gets a little more complicated when we look at Lyft’s overall annual revenue.
In 2020 they made a total of $2.36 billion – a 34.63% decrease compared to 2019. Ouch! The pandemic really hit them hard didn’t it? But here’s the twist – before the pandemic from 2016 to 2020 their revenue was increasing at a crazy Compound Annual Growth Rate (CAGR) of 61.92%! That’s like seriously impressive growth.
It just shows how quickly things can change.
Breaking Down the Revenue Streams
Lyft actually has two main ways it makes money.
The majority of it about 93.22% or $2.2 billion comes from its ridesharing service.
The rest is from rentals – things like Flexdrive and Lyft Rentals.
Rideshare revenue took a massive hit in 2020 falling 36.42% from 2019. But the rental side of the business actually saw a 3.67% increase in revenue that same year! That’s interesting right?
Rental Revenue: A Small But Growing Piece of the Pie
The rental business is growing pretty fast.
Since 2018 it’s almost tripled in size.
It’s not nearly as big as the rideshare business but it’s definitely showing some promise right? That seems pretty interesting to me especially how it bucked the trend during the pandemic.
Market Share: Lyft vs. Uber – The Great Rideshare Race!
This is where things get really interesting guys.
Lyft currently holds a 32% share of the US ridesharing market.
Think about it – That’s a huge chunk! And it’s grown steadily over the years starting at a mere 7% back in 2015. That’s seriously impressive growth in just a few years! It’s almost like they’re slowly but surely taking a bigger slice of the pie.
Exclusive Users and the Uber Overlap
One fascinating statistic is that a quarter of American rideshare customers only use Lyft – that’s a huge base of loyal users! Another 12% use both Lyft and Uber.
Among people who use both annual spending on Lyft is $169 on average while Uber gets about $247 annually.
That’s interesting right? That’s kind of a huge difference; it’s way more than I expected.
City-Specific Market Share: Where Lyft Reigns Supreme
Lyft isn’t just equally popular everywhere though! In some major cities its market share is way higher than the national average.
For example in Phoenix and Detroit it’s a whopping 45%! It’s pretty popular on the West Coast and in the Midwest too.
It’s wild how different the market share is from city to city.
Lyft’s Financial Performance: The Big Picture
Lyft users spent a total of about $8.97 billion on rides in 2020. Estimates for 2021 suggest that amount would be even bigger though – around $12.93 billion.
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That’s insane right? That’s a massive amount of money.
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It represents an increase of 8.2% compared to 2019. That’s a lot of rides! It’s seriously amazing to think about how much money they bring in.
Lyft’s Share of Rideshare Spending
Lyft’s share of all rideshare spending is also pretty remarkable.
It captured 32.32% of all rideshare money in 2020 up from 23.77% just two years earlier.
That growth is truly significant.
It makes you think about how competitive the ridesharing market truly is.
The People Behind Lyft: Drivers and Riders
Now let’s talk about the people who make Lyft happen: the drivers and the riders.
It’s a crazy mix of people and the statistics about them are also pretty remarkable!
Lyft Drivers: Who’s Behind the Wheel?
The majority of Lyft drivers (95%) work less than 20 hours a week.
Most (96%) have another job or are students.
About 15% are business owners and another 12% are students.
It’s a really diverse group of people! It kind of makes sense considering that being a driver can be so flexible.
Driver Demographics: Diversity on the Road
Lyft’s driver base is also really diverse.
A whopping 69% identify as members of minority racial or ethnic groups.
That’s way higher than the national average! And only 21% of Lyft drivers are women.
And 7% identify as LGBT+ which is actually higher than the national average.
It’s really cool to see how diverse the driver base is compared to the population at large.
Lyft Riders: Who’s Getting a Ride?
Now about the riders! 47% of them are from minority racial or ethnic groups – that’s lower than the driver group but still pretty diverse.
16% of Lyft riders identify as LGBT+ which is 3.55 times higher than the national average.
It’s interesting to see those differences between drivers and passengers.
Rider Demographics: Income and Location
The median household income of Lyft riders in the US is $54000 slightly higher than the $51318 for Canadian riders (that’s about $64000 CAD). It seems like Lyft is used by a pretty wide range of people from different backgrounds.
App Downloads and Employees: The Lyft Ecosystem
Let’s peek behind the curtain at app downloads and employees.
Check our top articles on Lyft 2024 User and Revenue Stats
This is the tech side of Lyft.
The rider app gets downloaded 1.82 million times each month while the driver app gets around 120000 downloads.
In 2020 alone the rider app was downloaded a massive 24 million times! That’s a lot of downloads right?
Employee Count and Compensation
Lyft employs around 4675 people though that number is down a bit since 2019. The median compensation at Lyft is supposedly around $179000 – that’s pretty high right?! It’s about the same as what Lyft employees on H1-B visas make.
That’s definitely a lot of money.
The Future of Lyft: Will it Overtake Uber?
So what does the future hold for Lyft? Will it ever surpass Uber? I mean I dont know what do you think? That’s the big question right? It’s definitely a huge challenge considering Uber’s massive market share.
But Lyft is definitely making progress.
But honestly who knows what the future holds? Its certainly a fascinating race to watch!
I hope you guys enjoyed this journey through Lyft’s world of numbers! It’s crazy how much data there is and how much can be learned.
Let me know what you think! And don’t forget to share any other cool stats you’ve come across!