Almost half of US consumers used their smartphones more often to stream video and TV during lockdowns, according to research by app marketing platform Adjust.
Based on the answers of over 1,000 US consumers, the survey found that respondents spent an average $21 per month on app subscriptions.
Over a quarter of millennials and Gen Z customers said they stopped paying for other services in order to pay for video subscriptions. This makes it one of the larger consumer groups compared to 18% overall.
Millennials are also happy to spend more on subscriptions at an average $26 per month. The over 55-year-olds are spending just $14 in comparison.
Streaming apps were the most heavily downloaded subscription apps (31%) followed by gaming (9%) and news apps (4%).
It’s evident that younger audiences are leading when it comes to mobile streaming. Around 57% of them said they used smartphones more often during lockdowns to view content.
Among the top apps for video were Netflix, Amazon Prime, Hulu, Disney+ and YouTube TV.
Adjust announced the findings of the survey alongside the product roll-out of its Subscription Tracking product which offers marketers an overview of their subscription performance.
The package focuses on Lifetime Value models that increase ROI for a more accurate picture of their investment.
“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 Paul H. Müller, co-founder and CTO of Adjust.
“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.”