Friday, 24 July 2020 06:22

Americans spending most on video streaming apps, Counterpoint survey finds

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Americans spending most on video streaming apps, Counterpoint survey finds Image by mohamed Hassan from Pixabay

Americans spend most on video streaming apps, with as many as 75% saying their average monthly spend was about US$13 (A$18.3), in the latest Consumer Lens Survey conducted by technology analyst firm Counterpoint Research.

The research outfit said in a statement that one of the reasons for this could be the fact that the US is the country most affected by the coronavirus pandemic.

Counterpoint said its researchers had witness a spike in the use of other apps to, but to the degree of video streaming apps.

Senior analyst Pavel Naiya commented: “[The] lockdown has given the digital entertainment industry an opportunity to thrive and expand more quickly than before.

"We have seen many leading video streaming platforms aggressively launching original content to attract more customers towards subscription plans. As a result, many trial customers are moving to a paid subscription plan.

"Simultaneously, many subscribed users are upgrading from the basic plan to premium streaming options (HD and UHD). This significant movement is pushing revenue of these streaming services more than the earlier projected growth.

"With more revenue coming in, video streaming platforms are expanding their search for new content. This new trend is providing low-budget productions a platform to get a bigger audience, which was not possible earlier.”

Research associate Arushi Chawla elaborated on the new trend, saying: “Music streaming platforms are differentiating themselves mainly through two parameters — original/exclusive content and overall user experience (like recommended streaming and a better user interface).

"As a result, more money is allocated to acquire new albums or get exclusive content deals. With more money coming in, we are seeing albums being frequently published by leading artists. At the same time, popular artists are getting more exclusive content deals.”

video streaming

She added: “Spending patterns for music streaming apps signify that subscribers are using multiple paid platforms at the same time. This is mainly due to personalised music, genre preference, and exclusive fan following of different artists.

"As the music streaming universe is expanding, lesser-known indie artists are becoming mainstream. Instead of a full album, artistes are preferring releases of singles. This trend will further encourage a new-generation artiste to come on board and find the audience.”

The Consumer Lens Survey also found that:

  • Female respondents were spending more on mobile games as compared to males. Respondents who were not working were spending more on games as compared to any other category;
  • The average spending on social media and dating apps was US$10 (A$14) per month. About 35% of the self-employed spent US$20 or more per month. Students were the second-highest spenders in this category;
  • Productivity apps were more popular among males and the self-employed; and
  • Digital newspapers and magazines mostly ran on advertisements. As a result, the average spending in this category was the lowest among all categories.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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