The video streaming industry is booming - but do we really understand how consumers feel about streaming apps and their logic behind engaging with these services?
To offer you deeper insight into how to position your streaming app in such a competitive market, we ran a survey using our proprietary market research solution to discover how people use streaming apps on their mobile phones and why they download new ones. Here are some key findings:
Streaming apps are a critical vertical for users
1. 68% of respondents rank a streaming app among the Top 10 apps on their phones and over 60% consider two or more streaming apps among their Top 10.
Streaming apps are an important vertical when it comes to users' app priorities, not just an afterthought.
Takeaway: You’re competing for space. It’s important that you speak to users with a high level of confidence, communicating why your app should be in users' Top 10 above competitors’ apps and other app categories.
2. 66% have a streaming app on their home screen for quick access.
According to Comscore, 61% of smartphone users move an app to the home screen because of frequent usage, 54% because of easier access when ready to use, and 18% because of its looks.
Takeaway: Aesthetics are key. Even before you highlight your app’s value, make sure your app icon stands out and grabs user attention among the many apps on the home screen.
3. 59% of respondents admitted that if they woke up to find no apps on their phone, they'd download their favorite streaming app among the first five apps they restored
...reaffirming the claim that streaming apps are an app category users can’t live without. Interestingly, Gen X are the least likely generation to keep a streaming app on their phone’s home screen, yet if they woke up to find no apps on their phone, they are the most likely to download their favorite streaming app as the first app they restored.
Takeaway: Work with a channel that puts your app front and center when users are looking for new apps. After all, you want to be the app of choice from the very beginning in order to increase your likelihood of being an app users can’t live without.
Streaming fatigue? It’s just a myth.
4. Despite headlines that users are decreasing their number of streaming apps, only 7% said they would not download another streaming app.
This means that 93% of people would be ready and willing to download your app if they haven’t already.
Takeaway: While it's important to be the first app of your kind on users’ devices, there's also room to get downloaded later on if your app matches a user's need. Ensure you differentiate your offering and continue to reach users throughout the device lifecycle through your advertising.
5. Of the 93% who would consider a new streaming app, 52% said it would be for a specific show/movie they want to watch.
60% of women would download a new streaming service for a specific show/content, as opposed to only 48% of men.
Takeaway: Your content is key.
Price is make or break for many users
6. Over 40% of users who cancel their subscriptions do so because of cost.
Demographics play a major role here. Women are more price sensitive: 45% have canceled a streaming service because of a price increase, as opposed to 36% of men.
Takeaway: It’s important to communicate why your app is more valuable than competitors. It may be best to address your cost head-on and explain why your app is worth its price.
7. 49% of users say they would download a new streaming app if it was free or discounted.
50% of women said they would download another streaming app if it was discounted or free, as opposed to 43% of men.
Takeaway: Free ad-supported (FAST) apps are a growing niche in the streaming industry, and offer room for growth especially to the female audience.
Growth in offering an ad-supported subscription option
8. Nearly half of all streamers pay to remove ads from at least one streaming app.
This trend is consistent across all age groups, with Gen X leading the charge at over 60%, likely because they have higher spending power and can afford the cost.
Takeaway: There’s a huge growth opportunity in incorporating different monetization models into your streaming app’s strategy, such as a free ad-supported plan alongside a more expensive ad-free plan. When communicating the ad free plan in your advertising, it’s best to appeal to those paying the bills in the house.
9. 37% of users don’t have free ad-supported television (FAST) apps on their phones.
Of those that do, 54% have between 1-4 apps. This means there are tons of users out there who haven’t started using FAST apps just yet, and they may use more than one app when they do.
Takeaway: There’s a big opportunity for FAST apps to further grow their audience, which makes it that much more important to reach the right audience. Based on contextual triggers, on-device advertising is in a unique position to place your app directly in front of users that are likely to download and engage with your app into the future.
Streaming apps continue to see growth and engagement, which means you want to set yourself up to reach users in the most effective way possible. Aura from Unity is an on-device advertising channel that recommends your app during critical moments of a device’s lifecycle, such as during device setup, as a native part of the device experience.
