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Global Video streaming Trends for 2022
As we head into 2022, more people than ever will manage and pay for the services they rely on through their most-trusted device: their smartphones. Mobile offers a streamlined, trusted, and efficient way to manage subscriptions, and the proof is in the data: consumers are voting with their wallets to the tune of $12 billion for streaming alone. Video streaming has been one of the fastest growing categories for app store consumer spend since the start of the pandemic in 2020.
Hulu is on track to reach $1B in lifetime consumer spend in Q1 2022, fueled by the US. In October 2021, YouTube joined the $3 billion spend club, as consumers opt for ad-free and mobile-first steaming.
Notable Entertainment apps on the rise included Discovery Plus, anime-focused Funimation, and the digital-collectibles/ NFT (non-fungible token) app VeVe.
Multiple surveys show that video viewing of all types accelerated in 2020. Most people—3 out of 5—are watching more paid streaming services, and more than half are watching more free streaming services, video game live streaming, and social media videos. Paid video streaming saw the highest viewing increases, with 3 out of 5 consumers saying they watch more paid streaming services such as Netflix, Prime Video, Disney+, and Apple TV. Nearly 2 in 3 consumers say that the content on streaming services is more entertaining than cable or satellite TV. This same portion of viewers believes that streaming subscriptions offer better value for their money than subscribing to cable or satellite TV.
Consumers are most likely to pay to stream on-demand movies and TV shows. Meanwhile, two-thirds of consumers want to get live news for free, half want to watch live award shows and live gaming for free, and 2 in 5 want to see live sports for free.
Indians' spending on mobile apps had been rising steadily before the pandemic hit but began to skyrocket early last year when Covid-19 and lockdowns became our collective reality. This meant that Indian consumers spent more than four hours a day on mobile apps for the first time in 2020, or a collective 651 billion hours for the year. That was a 40% jump from 2019, when Indians spent “just” 3.3 hours a day on apps.
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