Mobile streaming has boomed in the US with consumers spending an average of $20.78 a month on subscriptions, according to a survey by Adjust.
However, at $25.85 a month, those aged between 25 and 34 spend the most on subscriptions.
Furthermore, it was found that 30.7 per cent of subscription-based apps that are downloaded are streaming. Meanwhile, games services and news account for nine per cent and four per cent, respectively.
Interestingly, despite only accounting for one per cent of overall apps, subscription-based applications make up 79 per cent and 49 per cent of the top 225 apps in Google Play and the App Store, respectively.
Moreover, 46.9 per cent of people in the US used their mobile devices to stream video and TV services throughout lockdown. Meanwhile, Generation Z and Millennials are the most likely to use smartphones, around 57.2 per cent of them use mobiles to stream while social distancing.
Track those apps
Due to the increased popularity of subscription apps, Adjust has launched its new Subscription Tracking tool.
Through the new product, users can track subscription performance and build accurate lifetime models. Furthermore, markets can discover what channels help to create long-running subscription services.
According to Apptonia, around $200 million was generated in August 2020 alone from subscription-based apps.
“The growth of subscription-based apps has intensified this year as users look to their mobile devices for a broader array of activities, from entertainment and e-commerce to fitness and finance,” said Adjust co-founder and CTO Paul H. Müller.
“That’s why we are excited to offer an industry-first solution that helps mobile marketers manage their consumers’ subscription events and revenue, giving them a better understanding of how users engage with subscription models.”
In August, Adjust made three key hires as it looked to continue its expansion across the Americas.