According to the market analysis, It has been seen that consumer spending in the top 10 subscription video on demand apps grew 77 per cent last year, to reach approximately $781 million across the App Store and Google Play store in the US on Android and iOS devices.
The growth was noticed in the fourth quarter of 2017 when the top 10 subscription video apps grew around 88 per cent year over year to reach roughly around $242 million. The top ten list, which Netflix led, has the world’s highest earnings, followed by youtube, Hulu, HBO Now, Starz, MLB.com, Show Time, CBS, UFC etc. It has also been observed that all the video on demand apps grew their revenue by at least 10 per cent year by year.
Consumers would pay for cable TV in the past, perhaps subscribing to some premium channels to have more to watch and more to listen and stay subscribed for a long period. In the coming years, it seems that consumers will sign up for a service to watch a favourite show, then when the show ends, they will uninstall the app after it’s used. In comparison to the 77 per cent growth of the top SVOD apps, the overall growth of consumer spending on the App Store and Google play store for both Android and iOS devices was increased about 30 per cent last year, reaching approximately $14.4 billion.
With the increase in a subscription to video-on-demand apps, it is expected to rise at a higher scale in the coming future, as demand for mobile devices is also increasing with newer technology in demand. That will give rise to video-on-demand services and several services that can easily be operated on mobile and tablet devices in the coming future.