The report provides insights into the growth of digital music, movies, games and mobile apps from 2012 to 2013 in seven key markets.
IHS Inc, the leading global source of information, insight and analytics, and App Annie, the worldwide leader in app store analytics, app rankings and market intelligence, have unveiled a joint report detailing key trends in the digital content market in 2013.
As per the report, the global digital content spend grew to $57 billion in 2013. "Combining IHS and App Annie data has given us a unique view into the digital content ecosystem for 2013. The US has long been a powerhouse in terms of consumer spend on digital content, but we identified stand-out markets where consumers are not only monetising better, but still have potential for growth. These include South Korea, where overall digital spend per capita is much higher than the US, or the UK, which has one of the strongest online music markets," states Jack Kent, principal analyst, mobile media at IHS Technology.
The report further stated that global consumer spending on digital games, apps and online movies passed $57 billion in 2013, up almost 30 per cent from $44 billion in 2012. Online movies - a more mature content market - saw healthy growth, up 21 per cent to reach $8 billion globally in 2013.
The United States leads in digital content spend, while South Korea monetises better per capita. Large gains in game app spend in Japan and South Korea, with 4.4x and 5.8x growth year-over-year, respectively, were a key driver of the growth in mobile apps.
Read the entire report below: