Briefly: There’s been a backlash in opposition to streaming apps lately because the likes of Netflix and Disney+ increase costs and clamp down on password sharing. Nevertheless, a brand new report exhibits that the negativity is not impacting the apps’ reputation or revenue: greater than half of each greenback spent within the leisure app class every quarter now goes to streaming video apps.
The 2024 Streaming App Business Report from Appfigures exhibits the unbelievable progress of video streaming apps during the last 5 years. Client spending on the likes of Peacock, Paramount+, and Max has elevated by virtually 400% for the reason that first quarter of 2019, reaching a document excessive of $2.1 billion within the first quarter of this yr.
The report notes that the launch of a number of new streaming video companies within the final couple of years has seen this class of apps obtain greater than 100 million downloads every quarter. Which means that 52% of all income within the general leisure app class was generated by video streaming functions.
Based on Appfigures, shoppers in North America spend a median of $1,400 each quarter throughout the highest streaming apps. Considerably surprisingly, the perfect performer by way of each downloads and in-app income was Max. It was downloaded roughly 6.4 million instances from the App Retailer and Google Play within the US in Q1, whereas its gross income reached $244 million.
When it comes to US downloads, Netflix was second behind Max with 5 million downloads through the first quarter. Within the income charts, Disney+ was a detailed second with $220 million.
The worldwide image is barely totally different. Netflix had probably the most App Retailer downloads (39.6 million), whereas Disney+ generated most income ($465 million).
The report additionally analyzed hundreds of thousands of search queries on the App Retailer and their outcomes to rank video streaming apps by how straightforward they’re to seek out. Peacock had the best discovery rating, adopted by Hulu and Max.
Elsewhere, it was discovered {that a} complete of $3.8 billion was spent on leisure apps final quarter, virtually one billion {dollars} of which went towards short-form video apps equivalent to TikTok. The class has seen the most important enhance in shopper spending during the last 5 years, rising 1,539% since 2019. Appfigures places this right down to folks shopping for cash to reward stay streamers on TikTok. It’s going to be fascinating to see what occurs if the app is banned within the US subsequent yr, one thing that appears more and more seemingly.
