Subscription Economy to Reach $1.2 Trillion by 2030
A new study by Juniper Research has found that the subscription economy will grow by 67% over the next five years, from $722 billion in 2025.
The COVID-19 pandemic helped fuel a record increase in health and fitness app spending in Europe during 2020, according to Sensor Tower data. Spending on the apps grew 70.2 percent to an estimated $544.2 million. Globally, spend increased 50 percent to $1.8 billion.
Sensor Tower noted Europe became an epicentre for the pandemic, with consumers turning to their phones more than ever for entertainment and necessities. The outlay emphasised just how serious people were about their mental and physical health, the company argued.
The UK topped the table for Europe with spend of $160.6 million, followed by Germany ($89.3 million) and France (56.4 million). Apple’s App Store accounted for the majority, $392.8 million, and Google Play the remaining $151.4 million. Fitness app Strava, and meditation services Calm and Headspace were the top titles driving spending.
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