We all know that video streaming has grown in popularity in recent years, but what you might not be aware of is that more than half of every dollar spent in the entertainment apps category today is spent on streaming services, according to App Figures’ 2024 Streaming Apps Industry Report.
Streaming video apps are now downloaded more than 100 million times per quarter, “driven in part by the launch of several new services over the past few years,” App Figures noted. In North America, consumers reportedly spend an average of $1,400 per quarter on the top streaming apps.
(Credit: App Figures)
Consumer spending on video streaming apps reached an all-time high driven by growth in apps like Disney+, Peacock, Paramount+ and Max. Consumer spending on video streaming apps on mobile is up 383% compared to Q1 2019, according to App Figures.
The leadership position might surprise you: According to the report, Max is currently the top video streaming app in the U.S., outperforming all other competing apps in both new downloads and in-app revenue.
According to the report, the Max app was downloaded 6.4 million times across the App Store and Google Play in the US in the first quarter, generating $244 million in total revenue, with Netflix coming in a close second in downloads and Disney+ coming in second in revenue.
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This growth isn’t just limited to traditional streaming services: 9to5Mac noted that the short-video app’s revenue increased by more than 1,500%, which it attributes to users buying coins to reward TikTok livestreamers.
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