YouTube targets small biz and moves up download rankings
App Annie has released its monthly Index which shows the popularity of dating app Tinder is once again on the rise, YouTube is climbing the content ranks and online video platform iQIYI is fast catching category leaders, reports Telecoms.com.
The App Annie Index highlights the top-performing games and apps for the iOS App Store and Google Play, states online video platform iQIYI has re-entered the top 10 for revenues over June, and has continued to demonstrate strong growth. Last month it announced it had surpassed 20 million paid subscribers to its streaming service, demonstrating Chinese customers are willing to pay for premium content. This news comes only six months after it reached the 10 million mark, and represents a 765% annual increase in the number of paid subscribers.
Although there has been news of restrictions in Chinese press in recent weeks, the attractiveness of iQIYI to consumers might partly be down to relationships which are in place with international organizations. iQIYI often broadcasts popular international shows and currently has content agreements in place with numerous brands including Universal Pictures and Fox. The team would also appear to have international expansion in mind, as it launched a revamp to its iQiyi Taiwan product, as well as capitalizing on the popularity of virtual reality, as it announced its own VR apps and a partner incentive program during its iQIYI World Conference in May.
Virtual reality could represent a significant opportunity in China, though it does in all technologically advanced nations, as the country’s Ministry of Industry and Information Technology believes it could be worth in the region of 55 billion yuan by 2020, approximately $8 billion. Deloitte Global also predicts the VR segment will become a billion dollar industry in 2016, estimating sales of 2.5 million VR headsets and 10 million games worldwide.
From a content perspective, the Index highlights the recent focus on video content is not limited to Facebook and Twitter, as YouTube re-enters the top 10 for content platforms. Facebook still remains top of the rankings for worldwide downloads, though it would appear efforts YouTube has been putting into revamping its content platform in recent months have been paying off, as the US leads the charge with a wave of new downloads across the month.
One of the new initiatives launched by the YouTube team was Director Onsite, a project which helps small business owners create content for advertising on the platform. For those who commit to $150 of advertising spend, a YouTube approved film director will visit the business and shoot a short promotional video to be used on the platform. The initiative is one of numerous activities from the wider Google business, which seems keen on attracting more small and medium sized business to continue the growth of advertising revenues.
“With respect to consumers, we continue to invest in innovative opportunities that create great experiences and improve their lives,” said Alphabet CFO Ruth Porat, during the company’s quarterly earnings call. “And we’re empowering small businesses globally by providing greater reach to customers, not just in their towns, but across countries and around the world.”
Tinder also saw a slight increase across the month, confirming its place as the highest revenues for the dating app segment. In June, it was the most-used app in the Lifestyle category on iPhone in the 13–24 year old demographic in the US, with only one other dating app featuring in the top five. While Tinder is one of the more recognized brands for millennials, it would be worth noting its target audience is limited to those aged 18 and above, and for the most part are single, while the vast majority of other apps in the rankings have much wider demographics.