We all know video streaming has gained in popularity in recent years, but what you might not realize is that more than half of every dollar spent now in the entertainment category goes to streaming apps. They’re that popular, according to the 2024 Streaming App Industry Report by App Figures released earlier this week.According to the report, streaming video apps are currently downloaded more than 100 million times every quarter. However, that large number is likely due to new services launching rather than Netflix downloads.In North America, consumers reportedly spend an average of $1.4k every quarter across the top streaming apps. Consumer spending in video streaming apps has reached an all-time high, ruled by the growth of apps like Disney+, Peacock, Paramount+, and Max. According to App Figures, consumer spending on video streaming apps on mobile is a whopping 383% greater now than it was during the first quarter of 2019.The leader of the pack might surprise you. According to the report Max is currently the leading video streaming app in the United States, beating every other competitor both in new downloads as well as in-app revenue.
Recommended by Our Editors
The report estimates the Max app was downloaded 6.4M times from the App Store and Google Play in the US in Q1 and saw gross revenue hit $244M. Netflix came in a close second.And all that growth isn’t just in traditional streaming services. 9to5Mac notes that short video app revenue increased by more than 1500%, something that the report attributes to users buying coins to reward live streamers on TikTok.
Get Our Best Stories!
Sign up for What’s New Now to get our top stories delivered to your inbox every morning.
This newsletter may contain advertising, deals, or affiliate links. Subscribing to a newsletter indicates your consent to our Terms of Use and Privacy Policy. You may unsubscribe from the newsletters at any time.
About Emily Price
Weekend Reporter
Read the latest from Emily Price
