Let us look at a few prominent apps which have created huge gains for the entertainment industry.

Let us look at a few prominent apps which have created huge gains for the entertainment industry.

The Smartphone revolution has transformed every aspect of our lives. We are now interacting with mobile apps for getting almost everything virtually done. Whether it is banking, booking tickets, socializing, paying bills, monitoring health or reading newspaper, there is an app to get things done in just a few taps. With the increase in screen size and significant improvements in display quality of Smartphone screens, the mobile apps are becoming one of the major sources of entertainment. Let us look at a few prominent apps which have created huge gains for the entertainment industry revolutionizing the old means how people engage with entertaining content.

Netflix — Video Streaming

The Netflix is an app which allows users to watch TV shows and movies through media streamed on the internet. Netflix has become a powerhouse of online entertainment which allows users to watch movies or TV shows anytime and from anywhere. Netflix revenue grew to 6.78 billion US dollars in 2015 which is nearly ten times the revenue it generated in 2015. There are an increasing number of TV shows which are exclusively available for Netflix subscribers.

Pokemon Go — Mobile Gaming

This augmented reality game has crossed $200 million dollar mark within one month of its launch. The revenue is generated through in-app purchases. The game is well received by gaming enthusiast and has created patrons worldwide. Pokemon Go has not only opened up avenues for game developers but has also paved way for advancement in augmented reality.

You may also like reading: Trends of Mobile Games like Pokemon, Star Knight & Parallel Kingdom

Spotify — Music Streaming

The live music streaming app, Spotify, generated revenue of $2.18 bn in 2015 with its advertising revenue shooting up to US $219 million. These statistics reveal that mobile app has a great potential in generating revenue for the music industry. When the physical CD sales of recorded music were dwindling the live streaming apps brought a respite for the entertainment industry.

Pandora –Internet Radio

The favorite app for internet radio, Pandora allows users to tune into a wide variety of radio stations. Pandora generated a total revenue of over 343.02 million US dollars in the second quarter of 2016. Radio has been one of the oldest forms of entertainment and with internet radio apps, the millennials are also tuning into live radio through the mobile apps.

Inference

There are millions of other mobile and tablet apps which are becoming the source of entertainment. As the global penetration of Smartphones and tablets is increasing day by day, the mobile apps are being preferred by users to get entertained. Due to portability and flexibility provided by the hand held devices, soon mobile apps will become one of the major sources of entertainment. For the movie, television, music, and gaming industry, mobile apps are creating multiple revenue streams.


Originally published at www.mobiloitte.com on September 13, 2016.

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