Live Streaming Apps Are Fueling A New Social Media Boom

[upamfva]

TOPLINE Video and live streaming apps fueled a $1.2 billion spending boom among social media users in 2020, a new report from app analytics firm App Annie said, as the pandemic saw an explosive rise in time spent on social apps and the creator economy.To get more news about moonlive, you can visit official website.
Social media apps have been downloaded 74 billion times around the world in the last ten years, according to App Annie’s “The Evolution of Social Media” report published Monday, including some 4.7 billion downloads in the first half of 2021.

Almost half (44%) of mobile screen time during the first half of 2021—740 billion hours globally—was spent on social apps, App Annie found, a slight drop from around 770 billion hours spent on the apps in both halves of 2020 but significantly more than pre-pandemic levels of broadly around 600 billion hours.

By 2025, App Annie estimates consumers will spend $17.2 billion through social apps a year. This works out to around 30% growth every year, with this year expected to hit $6.8 billion.

Live streaming and video apps have soared in popularity during the pandemic, as has the app economy as a whole. Twitch, for example, has seen its global number of monthly active users go from just over 40 million in January 2019 to almost 90 million in January 2021, according to App Annie. YouTube and TikTok now outrank the likes of Disney+ and Netflix (which were number one 2017-2019) in terms of consumer spend among social, communication and entertainment apps, another indicator of the shift towards a creator economy, according to App Annie. In spite of streaming’s ascendance, the early social media and entertainment apps dominate in terms of time spent, with YouTube, Facebook, WhatsApp and Instagram comfortably holding the top four slots in as many years, according to App Annie and using information from the first half of 2021. 

$34 billion. That’s the record-breaking amount of spending across all mobile apps in the second quarter of 2021, according to App Annie. Global app spending was up $2 billion from the previous quarter and $7 billion from the year before, despite the number of app downloads remaining relatively stable over that period.

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