fbpx

SOCIAL MEDIA

Growth of livestreaming to push spending on apps

By our News Team | 2021

Livestreaming is likely to push consumer spending on social apps to a whopping US$17.7-billion by 2025, industry experts predict.

“Livestreaming is the new social language that facilitates real connections and authentic experiences with the community. We see livestreaming fuelling the boom in the social media space – with the potential for tremendous growth in the next five years,” says Lexi Sydow, analysis firm App Annie’s Head of Marketing Insights. 

She believes this has paved the way for brand creators to boost engagement within social apps.

Growth in Livestreaming

Livestreaming has evolved during the pandemic. A report by App Annie titled ‘The Evolution of Social Media’ found that US$78-billion is expected to be spent in social apps through to 2025. Consumers are anticipated to spend US$6.78-billion via social apps this year, rising to US$17.7-billion in annual spend in 2025. This amounts to a five-year compounded annual growth rate of 29%.

This growth comes from livestreaming features such as real-time chats, multi-guest rooms and virtual ‘gifting’. According to the report, livestreaming apps increased market share of consumer spend by 24 percentage points from 2018. This forms 76.24% of consumer spend now compared to chat apps (18.81%) and photo and video apps (4.95%). 

Meanwhile, social apps that offer livestreaming as a prominent feature accounted for US$3 of every US$4 spent in top 25 social apps in the first half of this year.

Livestreaming is the new frontier 

The total time spent on the top five social apps with an emphasis on livestreaming are predicted to surpass half a trillion hours on Android phones alone. 

The US, Japan and China accounted for 60% of consumer spend in social apps during the first half of the year. The US, in particular, emerged as the top market for consumer spend in social apps, with a spend of 1.7 times more than second-placed Japan. 

Globally, YouTube emerged as the top app with the most consumer spend, followed by TikTok, Disney+, Tencent Video, Bigo Live, Twitch, HBO Max, iQIYI, Netflix and QQ Music.

 

Source: Marketing Interactive

AMC Member News

AMC Member News

Brands have a great opportunity to achieve excellent ROI on the platform. However, there are several important points to be aware of.

Read More »
Marketing Gimmicks

Marketing Gimmicks

Playful and gimmicky, it wants consumers to feel as if they’re in a slightly dodgy bar with inexpensive drinks and a down-to-earth vibe.

Read More »
Retail Strategy

Retail Strategy

The focus of the new stores will be on delivering greater ‘everyday value’ to the growing middle-market shopper segment.

Read More »
Social Media

Social Media

But the latest study by Pew finds that YouTube rules the roost, with a massive 95% of American teens using the platform.

Read More »
Brand Value

Brand Value

No surprises as Coke and Pepsi fill top spots in latest survey of non-alcoholic drinks brands. Their values rise by 7% and 12% respectively.

Read More »
Personal Branding

Personal Branding

Want to be CMO? Prudent building of your personal brand on social media – especially Twitter – could get you there, researchers find.

Read More »