Internet video streaming is a tried, tested and proven concept. Sites such as Netflix and YouTube are aggressively taking over the market with staggering growth statistics. In 2011, Netflix had 24.4 million subscribers. This month, July 2014, they surpassed 50 million global subscribers, with 36 million of them being in the US alone. As for YouTube, 100 hours of video are uploaded every minute, with more than 1 billion unique users visiting each month.
It doesn’t stop there. Among US adult broadband users, 49% engage with some form of mobile video app at least once a month, according to a new report by The Diffusion Group (TDG). They found that an individuals engagement with a mobile video app, is inversely proportional to age, as seen by the graph below.
Netflix is undoubtedly one of the most popular video apps, but what we are interested in at YUDU, is the popularity of video on mobile devices, and whether we are likely to see growth in our downloadable video apps.
Embedding video directly into an app comes with many advantages. Hobbyists are able to download the latest how-to video and watch offline, when best suits them. Gardening and fitness videos benefit greatly from this feature, as often wi-fi doesn’t stretch to outdoors. Couple this with the fact that videos in apps act as an excellent archival tool, for those who want to download very specific content.
Another area that would benefit from a downloadable video app is training, specifically eLearning. IBM moved half of its training programs to an eLearning format and in just 2 years, the company saved $579 million. Video apps can also increase the impact of internal communications. According to Forrester research, employees are 75% more likely to watch a video than read documents.
Corporations can also integrate a mobile video app within their sales team. Not only will the team benefit from having new product training first hand when on the road, but they can also act as a transformative sales tool. 85% of buyers more likely to make a decision after seeing an explanatory video.