New data has revealed that in Q1 2021, YouTube was the number one app for consumer in-app spending.
Data from App Annie shows that ad spend records were broken during the first months of this year, with spending being up 40% on that of the year before. In fact, users of smartphones actually spent approximately $9bn (£6.5bn) more on games and apps in the first quarter of 2021, compared to that of 2020. The growth of spending in apps has increased equally on both Android and iOS devices, along with downloads.
However, it has been video streaming giant YouTube that’s reaped the most benefits from this increase, knocking Tinder off of the top spot and overtaking TikTok to become the leader in consumer in-app spending.
While the report from App Annie doesn’t contain details of the specific purchases consumers are making on YouTube, there are numerous options available for the users of the video streaming service. These include YouTube Premium, wherein users pay a monthly subscription fee to remove ads and gain access to exclusive features, and memberships to specific channels, which allow users to watch “members only” videos, along with other benefits.
Channel memberships, along with super stickers and super chats, which are both in-app purchase options during live streams, all directly contribute to a video creator’s earnings.
The App Annie data also reveals a rise in the amount of content being consumed on YouTube. In 2020, those on smartphones watched YouTube content six times more than that of the second most consumed streaming app. What’s more, YouTube took the top spot in the video streaming app rankings in all markets that were analysed, apart from China. It was also revealed that the number of hours of video streamed via mobile devices in 2020 was up by 40% on that of 2019, and that YouTube users watch 38 hours of video each month on average.
App Annie has also predicted that, in the UK, around 60% more apps for video streaming will be downloaded by the average mobile streamer compared to levels pre-COVID-19.
The rise in consumption of content and spending on YouTube indicates that users are able and willing to support content creators on the platform, and this could well extend to brands and businesses looking to branch into new ways of earning money online. In addition, the rise of mobile streaming highlights the importance of making videos that are mobile-friendly.
If you’d like to talk about video content for your business, get in touch with our team here at Engage Web.
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