The coronavirus outbreak has had a major impact on the economy of the world.
Since its first appearance in December 2019 in Wuhan, China, the Coronavirus, also known as COVID-19, has affected the entire world with over 4M confirmed cases worldwide. Many people have lost their jobs but for others in the digital space these have been times of prosperity.
Here are applications that have experienced greater profits due to Coronavirus:
Netflix is an online streaming of movies and TV series. With the lockdown implemented in many countries across the globe, Netflix has seen the increase of almost 16M new subscribers in the first three months of this year. With everybody indoors, the public is in need of entertainment while in self isolation, and what better way than ‘Netflix and Chill’.
According to reports, The shelter-in-place orders across America, combined with the loss of live sports, could accelerate the adoption of the types of streaming services that Netflix pioneered. Early returns showed that paid subscriptions for streaming TV and video jumped 32% the week of March 16 and has only continue to grow.
TikTok is a video social networking service with more than 800M active users worldwide. This number is just increasing during the pandemic as many people kids and adult, find it a fun way to pass time and relax. TikTok is currently the most downloaded app in many countries including India.
According to a report on the Business Insider, the application known for its viral short videos has surpassed most apps on the market.
Business Insider reports, “TikTok has now surpassed 2 billion downloads on mobile devices after seeing a surge in popularity during the coronavirus pandemic.”
“The video-sharing app already had a monstrous start to 2020, attracting 315 million new installs since January, according to app analytics firm Sensor Tower . That reportedly is the most downloads any app has ever gotten in a single quarter.”
The e-commerce giant Amazon has been called the ‘the clear winner’ from the Coronavirus pandemic, making almost $11,000 per second as everyone has turned to online shopping in these times of social distancing, and COVID-19 restrictions.
Amazon owner Jeff Bezos net worth is striking and guaranteed his post as the wealthiest man alive for the third year in a row.
4. Workout Applications
Workout apps have been booming since the lockdown was initiated. People are dedicated to stay fit and healthy during this period. It’s very important to stay active and workout apps are benefiting from this as the rates rise up to 45% .
5. Digital Video Games Apps
Everyone is looking for a way to entertain themselves while staying home and video games have been in so much demand, pushing profit. In March alone, the Game industry has recorded $10B of profit.
According to TIME Magazine, sequestered people around the globe are playing more video games during the pandemic. Gaming was up 75% in the first week of mass self-isolation alone, Verizon says. Nintendo Switch consoles, a popular choice for families, kids and casual gamers are difficult to find, with supply unable to sustain the high demand.