YouTube has recently become the number one application when it comes to consumer spend. According to a report on worldwide app spend in Q1 2021, the application has made yet another record.
App Annie has released a new data for the app and it shows how YouTube spend broke records for app spend in general.
YouTube has surpassed Tinder and TikTok in terms of in-app purchases. Since there is a high increase in consumer spend within the app, YouTube has swiftly broke every other records. As of Q1 2021, app spend is up 40% year over year. This also proves that the pandemic continues to have an impact on the in-app purchases.
According to a report published in SEJ, smartphone users around $9 billion more on apps and games in Q1 2021 than they did in Q1 2020.
Even on iOS as well as Android, there is an unprecedented increase in the app spendings. Besides the in-app spend, downloads are also increasing on both of the platforms as well.
YouTube app spend: What are people buying?
As soon as you hear about the inreasing amount of in-app spending, one question is bound to hit your head: What are people buying?
You must be wondering that it is an application where people watch videos. While there are no specifics available on where the people are spending their money, but here are the features offered in YouTube. Spending money within the application will also contribute to creators’ revenue.
YouTube in-app purchases include:
YouTube Premium: A monthly subscription service. YouTube premium allows you to watch free videos without any ads. You can also avail exclusive features with YouTube premium.
Channel Memberships: This allows you to have a monthly subscription to a specific channel. This subscription comes with various perks.
Super Chat: During a creator’s live stream video, you can get the feature of highlghting chat messages.
Super Sticker: Viewers can pay to send stickers in a chat during a creator’s live stream.
Channel memberships, super chats, and super stickers all go directly toward a creator’s earnings.