Australian streaming apps break through as Netflix losses hit
New data from market intelligence firm Sensor Tower has revealed how far local Australian apps and streaming services trump much larger global players in both popularity and popularity. profitability of their streaming services. This follows a growing number of local media companies launching direct-to-consumer video services to compete with global giants such as netflix.
Analyzing data over the past 12 months reveals:
• Australian brands such as Nine, ABC, Seven Network and Stan Entertainment dominated the top 10 entertainment app publishers in terms of downloads.
• On revenue, Streammotion (including sports service Kayo and video streaming service BINGE) outperforms Netflix and many other major global streaming players in terms of profitability.
• This is not surprising given the news about Netflix’s dwindling user numbers. Consumers are looking the other way as they boycott price increases and the inability for multiple users to stream from a single account.
• Kayo continues to outperform most streaming entertainment apps for revenue in UA, suggesting sports streaming services are where the money is.
As the recent PwC Entertainment and Media Outlook 2022 report revealed, streaming services are more popular than ever, with average Australians holding 2-3 subscriptions and spending over $8 billion on streaming and gaming last year. . Australian brands are tapping into this trend, making the streaming space its most competitive yet.
Tom CuiManaging Director APAC at Sensor Tower says:
“Despite Netflix’s recent loss of subscribers, they are still the best service in Australia from a user and viewership perspective, but their growth has been significantly impacted and has presented a great opportunity for local streaming services. to show their value to customers looking to buy elsewhere. When many people think of streaming services, Netflix, Amazon and Disney come to mind. What our Sensor Tower data has shown is that ‘in fact, local streaming services are giving these global brands a run for their money in terms of popularity and revenue.
“Streamotion is a key player with its sports service, with Kayo ranking higher than most entertainment apps for revenue in Australia. This reflects how much Aussies love their live sport and if you work in the entertainment industry streaming is where you can expect to continue to see an increase in downloads and consumer spending.