As digital media consumption continues to skyrocket, the video streaming app industry is at the forefront of it all.
The technology and content that streaming services provide offer users plenty of options — from free access to watch their favorite movies or shows to subscriptions for exclusive access.
With so many choices in front of them, consumers are quickly becoming accustomed to the on-demand convenience offered by these streaming apps.
To better understand the state of this growing industry, let’s take a look at some key revenue and usage statistics associated with popular video streaming apps.
Overview: Video Streaming App Revenue And Usage Statistics
Video streaming apps have taken the entertainment industry by storm, offering users access to a vast library of movies, TV shows, and other video content.
These apps provide users with a convenient way to watch their favorite films and shows on their devices at any time.
Many of these services also feature exclusive content that can only be found on the app itself, giving users access to unique content that can’t be found elsewhere.
With the rise of streaming apps, many people have abandoned traditional cable and satellite services in favor of these convenient solutions.
For those looking for an easy way to access their favorite video content on the go, a video streaming app may be the perfect solution.
These streaming apps offer various features that make them stand out from the competition.
Many of these apps allow users to create profiles, save their favorite videos and create watchlists so they can easily find what they’re looking for without having to search through an entire library.
Additionally, many streaming services provide access to exclusive content as well as original programming not available on other platforms.
Finally, many streaming services also provide users with the ability to download content for offline viewing, allowing them to watch their favorite videos without an internet connection.
Video streaming apps continue to revolutionize the way people watch movies and TV shows and are becoming increasingly popular as more consumers turn away from traditional cable and satellite services.
For those looking for an easy way to access their favorite video content on the go, a video streaming app may be a great solution.
With features like profile management, watchlists, exclusive content and offline viewing, these apps offer users an unparalleled entertainment experience.
With so many streaming services available on the internet market today, there’s sure to be one that meets your needs.
Key Video Streaming App Statistics:
The demand for streaming services continues to increase, presenting opportunities for businesses to create their own unique platforms.
Furthermore, advancements in technology have enabled the development of a wide range of different video streaming apps that are used by people all around the world.
To get a better understanding of these applications and their usage, let’s take a look at some key video streaming app statistics.
According to a survey conducted by the Pew Research Center, as of 2019, 82% of US adults have used an online video streaming service at least once.
Additionally, 47% of those surveyed reported using video streaming services on a daily basis.
This highlights just how popular these types of apps have become in recent years, as well as their potential for businesses to develop and monetize streaming services.
In terms of usage, the majority (60%) of people use video streaming apps on their smartphone or tablet. This is followed by streaming through a smart TV (45%), laptop/desktop computer (36%), or gaming console (28%).
This shows that while the majority of people prefer using mobile devices for streaming, there is still a large number of users who choose to watch through other means.
Top Video Streaming Apps
1. Netflix:
Netflix is one of the most popular video streaming services out there. It offers a wide selection of movies, TV shows, documentaries, and original programming that can be streamed to any device with an internet connection. The service also provides users with access to their content library on multiple devices at once, so you can watch your favorite shows or movies on the go.
2. Hulu:
Hulu is another great option for streaming video content. It offers a wide selection of TV shows, movies, and original programming that can be streamed to any device with an internet connection. The service also provides access to live television through its Live TV feature, allowing you to watch your favorite shows as they air.
3. Amazon Prime Video:
Amazon Prime Video is a great option for those looking for an extensive library of movies and TV shows. It offers both current and classic titles, as well as original programming from the streaming service’s production partners. The service also provides access to its content library on multiple devices at once, so you can watch your favorite shows and movies on the go.
4. YouTube:
YouTube is a great option for those looking to stream video content for free. It offers an impressive library of user-created videos, as well as access to official music videos from popular artists, movie trailers, and original programming from its partners. The service also provides access to its content library on multiple devices at once, so you can watch your favorite videos wherever you go.
5. Apple TV+:
Apple TV+ is the latest addition to the streaming world and offers a wide selection of movies, TV shows, and original programming. The service also provides access to its content library on multiple devices at once, so you can watch your favorite shows or movies wherever you go. It also includes exclusive features like Family Sharing and Siri integration, allowing you to easily find the content you’re looking for.
Video Streaming App Revenue:
By 2022, the global video streaming app revenue is predicted to reach $195.87 billion, according to a recent study conducted by Grand View Research.
This represents an enormous growth of over 50% from 2019’s estimated market size of $125.86 billion.
Much of this growth is attributed to the increased demand for online video streaming services, especially during the COVID-19 pandemic.
With social distancing in effect and everyone confined to their homes, people turned to video streaming apps for entertainment as well as other services.
This created a huge surge in users and also drove growth in revenue.
The subscription-based model is expected to be the main driver of revenue growth for video streaming apps, with over 80% of the total revenue being generated from subscription fees.
Advertising and other ancillary services are also expected to contribute to the overall market growth.
With the increasing popularity of on-demand streaming apps and growing user base, it is likely that video streaming app revenue will continue to grow in 2022 and beyond.
This offers a great opportunity for businesses to tap into this market and capitalize on the increasing demand for streaming services.
The video streaming app market is expected to reach $31.18 billion by 2022, which represents a significant increase of over 28% from 2018.
This impressive growth can be attributed to the rising demand for on-demand content, increased spending in the entertainment industry, and improved access to high-speed internet.
The leading players in the video streaming app market include Netflix, Hulu, Amazon Prime Video, and YouTube. Netflix currently has the largest share of the market with a market share of over 37% for 2018.
The company has invested heavily in content production and consistently offers exclusive original series to keep its subscribers engaged.
Hulu is the second-largest player with a 21% market share and is best known for its extensive library of on-demand TV shows and movies.
Amazon Prime Video has also been gaining ground in the market with a growing portfolio of exclusive content, such as Hollywood blockbusters and award-winning original programming.
YouTube is the fourth largest player with an 11% share of the market, thanks to its popularity among millennials and Gen Z users.
Usage By Age:
Recent studies have shown that video streaming app usage is higher amongst younger age groups than older age groups.
Those aged 18-24 years had the highest usage rate, with an average of 37% using at least one streaming service per month.
This percentage declines in each consecutive age group, with only 27% of those aged 25-34 and 21% of those aged 35-44 using the same streaming services each month.
Usage among those aged 45 and above further declines to a mere 8%.
The different consumption habits amongst age groups can be attributed to several factors.
First, younger generations are more exposed and comfortable with technology than older generations, making video streaming apps an attractive form of entertainment.
Second, younger generations are generally more open to trying new forms of entertainment, reducing the barrier to entry that older generations may find when confronted with a new platform.
Finally, streaming services often have more attractive pricing plans for younger users, making it easier and more affordable for them to access content.
All in all, video streaming app usage is a reflection of the changing entertainment landscape, with younger generations leading the way in terms of embracing new technology.
Going forward, these trends may continue to shift as older generations become more familiar and comfortable with streaming services.
Understanding these generational differences will be essential for understanding how people consume media in the future.
Game Streaming Concurrent Users:
Game streaming has become increasingly popular in the past few years, with many platforms offering gaming experiences to millions of concurrent users.
Streaming services like Twitch and YouTube Gaming have allowed gamers to watch games as they are being played by professional streamers, providing an interactive experience for viewers.
This surge in game streaming usage has led to a corresponding increase in the number of concurrent users of these services, with some platforms seeing an average of over 3 million concurrent viewers.
These impressive numbers are indicative of the impact streaming services have had on the gaming industry and how they have been able to provide a more engaging experience for both gamers and viewers alike.
Additionally, the rise in concurrent viewers has opened up a whole new realm of possibilities for streamers, with many taking advantage of the opportunity to monetize their streams and make a living as professional gamers.
This growth in popularity has also seen an increase in competition amongst streaming services, with each platform attempting to provide the best experience they can while attracting new users.
Services like Twitch have implemented features such as “channels”, allowing streamers to categorize their content for viewers and making it easier to find the type of games they are interested in.
Other platforms have also adopted similar approaches, providing more options for viewers while further increasing the number of concurrent users.
Overall, game streaming has seen tremendous growth over the past few years, with concurrent users reaching record numbers.
This surge in popularity has enabled streamers to make a living while providing viewers with an immersive gaming experience and has opened up new opportunities for the industry as a whole.
FAQs: Video Streaming App Revenue And Usage Statistics
💥Q: What percentage of the global mobile app market is taken up by video streaming apps?
A: According to a 2020 report from App Annie, video streaming apps make up 11% of total worldwide downloads and 12% of global consumer spending.
👩🚒Q: How much revenue do video streaming apps generate each year?
A: A 2019 report from Statista estimated that worldwide video streaming app revenue will reach $29.2 billion by the end of 2021.
👏Q: Which countries are the biggest consumers of video streaming services?
A: The U.S., China, and Japan are all major markets for video streaming apps, with each country accounting for about a third of global spending.
💁♀️Q: How much time do consumers spend using video streaming apps?
A: A 2019 report from App Annie found that users spent an average of 3 hours and 40 minutes per month using video streaming apps, with the largest share of usage coming from the U.S., China, and Japan.
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Conclusion: Video Streaming App Revenue And Usage Statistics
User experience and personalization are two key success factors for video streaming services. While competition is mounting in the space, there are still opportunities for new players to find a niche and succeed.
The important thing is to focus on creating a great user experience that keeps viewers coming back.
