Top subscription video on demand apps raking in $781 million in the US

Top subscription video on demand apps raking in $781 million in the US ​Content consumption trends are changing and more people aroundthe world are “cutting the cord” and moving away from traditional TV services. In this week’s subscription roundup, we highlight an interesting market analysis report which says that US customers have spent $781 million to access the top 10 video-on-demand subscription apps across the Google Play Store and Apple App Store last year. In other news, Amazon has raised the prices of its Amazon Prime subscription service and Google has launched audiobooks on the Google Play Store. 

Subscription video apps boosted revenue by 77% last year

A new market report has indicated that the demand for subscription video apps is at an all-time high, with US subscribers spending 77% more last year, generating around $781 million in revenue.Not surprisingly, Netflix earned the top honours as the world’s highest earning non-gaming app in 2017. In the US alone, the popular subscription streaming service grew at close to 113% YOY to reach revenues over $290 million. 

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Amazon Prime subscription service becomes more expensive

Amazon Prime, perhaps the most comprehensive subscription service in the world, is getting a price hike. Amazon has increasedprices of its Prime membership to $12.99 from the existing $10.99 per month. However, this applies only to the monthly membership program. The annual membership fee will continue to be $99 for Prime. Prime was originally just an annual subscription service, but a couple of years ago, the company launched monthly membership programs in a bid to attract more subscribers.

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Google launches audiobooks, will compete with Amazon’ Audible

Tech giant Google has started selling audiobooks on the Play Store. With this new offering, Google is now directly competing with Amazon’s Audible subscription service. However, the important difference here is that Google Play Books will allow users to purchase the books individually and there is no subscription package yet, whereas Amazon’s Audible charges $14.95 per month for its subscription program. Google also wants to integrate the audiobooks with its smart speakers and other devices, delivering a more uniform experience to users.

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Also read:BMW and Mercedes-Benz to offer cars on subscription?

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