March 21, 2022
It’s no secret that the number of people consuming media primarily via mobile devices rises annually. According to a 2020 survey by market research provider Statista, 43% of participants use mobile devices to consume content. While the television still leads the pack with 58%, that margin is likely to narrow over time – particularly with the younger demographic.
This ongoing trend has created a massive U.S. mobile entertainment market that ResearchAndMarkets.com valued at $91.3 billion in 2020 and expects to reach $257.1 billion by 2027. Whether it’s streaming music, videos or games, let’s look at a few of the content platforms benefiting as more consumers go mobile.
Let’s start with GameOn Entertainment Technologies (Tii:GET) / (Tii:GMETF), a company founded specifically because fewer people engage with content via televisions. The Vancouver-based B2B provides white label gamification – applying video game elements to boost consumer engagement – services for media companies, sports leagues, NFTs, OTT platforms, content producers, etc. The company also introduced a mobile B2C app that allows users to win cash prizes based on their major league sports predictions. GameOn is currently involved in the NCAA Women’s Basketball tournament. Just Women’s Sports, a digital-first consumer media brand focused on women’s sports, is leveraging GameOn’s proprietary game engine to power a prediction bracket for the NCAA Women’s Basketball Tournament.
GameOn also offers a Stock Perk.
Since its acquisition by Alphabet Inc. (Tii:GOOG) in 2006 for $1.65 billion, YouTube has become the most widely used app in the U.S. for content streaming with more than 2 billion users. The video-sharing and social media platform’s number of average daily users spiked on the increased popularity of home workout and cooking/baking videos during the pandemic. Another popular platform, IMDB (or Internet Movie Database), contains some 8.7 million television and movie titles, reviews and trivia. Acquired by Amazon.com Inc. (Tii:AMZN) along with two other companies for $55 million in 1998, IMDB now has more than 83 million registered users. IMDB also entered the streaming business in 2019 when it launched IMDB TV, a free, ad-supported streaming service.
A leading digital music, podcast, and video service, Stockholm-based Spotify Technology S.A. (Tii:SPOT) is one of the more popular content platforms in the marketplace. People in 184 countries and territories have access to more than 82 million tracks, making it a widely used destination for artists and consumers of streaming music. Spotify seems to be gaining in popularity, having announced that fourth quarter monthly average users grew 18% year-over-year to 46 million and premium subscribers increased 16% to 180 million.
Let’s not forget the millions of mobile gamers. Market researcher Global Industry Analysts Inc. (GIA), the premier market research company, expects the mobile gaming market to reach $139.5 billion by 2026. Market leader Tencent Holdings Limited (Tii:TCEHY) is at the forefront of the industry. The China-based global gaming holding company continues to gobble up smaller players to shore up its leadership position in the gaming space. Its most recent acquisition is a majority stake in Tequila Works, a Madrid-based studio best known for its work on the Rime adventure puzzle video game. The gaming industry is keeping an eye on Microsoft Corp. (Tii:MSFT) and its pending $68.7 billion acquisition of Activision Blizzard Inc. (Tii:ATVI) to determine if it will signal continued consolidation.
Mobile devices and apps have undoubtedly revolutionized the entertainment business – and it would appear that it’s just a matter of time before they become the dominant means by which people consume their entertainment.
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