The latest consumer spending reports from the Apple App Store and Google Play reveal significant growth of demand for photo and video editing and streaming/sharing applications. According to the combined official statistics for both marketplaces, the users in the US only spent 34% more on this category of applications in Q2 2021 compared to the last huge surge in Q2 2020.
History Repeating
A brief analysis of user spending behavior on the major app marketplaces shows that the growth of interest in the photo-video apps is both cyclic and gradual at the same time. We can see a 78% surge in spendings in Q2 2019 compared to Q2 2018, and then an 87% boom in Q2 2020. At the same time, the spendings in the category has been growing gradually over the last 3 years.
The number of spendings grew from $342 million in Q2 2020 to $457 million in Q2 2021. For comparison, the overall amount of spendings in the category in Q2 2018 was only slightly over $80 million.
Apple App Store reports an 83% revenue growth, while Google can boast about a humongous 126% revenue boost in the photo and video app category only. Google’s gigantic video streaming service, YouTube, performs extremely well but has been surpassed in revenues per download for the very first time by Twitch. The second streaming platform has benefited from the pandemic user behavior impact and continued to grow in Q2 2021.
However, the top leader in download on both platforms is still TikTok, with 34.6 million downloads. It has nearly two times more audience than Instagram and Snapchat (17.7 and 14.2 million users).
The Ever-Growing Market
The market of photo and video apps proves to be unsinkable and comes out of the pandemic stronger than ever before. Why does this category of apps grow faster and bigger than others? Write what you think about it in the comments and share the news on social networks. More exciting news is always on the way!
