How Peacock Beat Out the Top Streaming Giants in Q1: App Store Optimization

Source: Peacock

Peacock has ascended to the top of the streaming apps pack in the initial quarter of this year, thanks to its strategic focus on advertising. In-depth analytics reveal that the platform’s substantial commitment to App Store Optimization has resulted in a remarkable surge in downloads, surpassing its contemporaries in the streaming arena.

Peacock’s Winning Formula

According to Apptopia, Peacock TV surpassed Netflix, HBO Max, and Disney+ in Q1 in terms of downloads. In the most recent version of Apptopia’s report, BRAG Index III, in conjunction with Digital Turbine, Peacock TV is one of the apps that was classified as a Brand Leader.

In Apptopia’s description, this class of apps has attained an above-average install performance and has amassed a significant number of consumers who have expressed interest in the app. Statistics and analysis by the data intelligence platform show that Peacock TV attained about 2 million new paid subscriptions in the first quarter.

The key to Peacock TV’s success, according to analysis, was allocating a hefty budget to Apple Search Ads (ASA) and App Store Optimization (ASO) than rival apps. The report details that Peacock TV’s advertising execution stands out from other apps because it maximizes Search Ads.

ASAs enable an app ad to appear as the first search result to interested audiences, above any organically ranking competitor.

In Q1, Peacock used high-intent searches for specific content such as “NHL games” or “WWE Network”. The streaming platform also made use of branded keywords of competitors like Tubi and Netflix while these rivals do not have an ASA strategy. This helped Peacock TV to appear top of the list even when users searched for Netflix or any other competing app.

The platform also leveraged ASO to do Community Marketing, updating its metadata to highlight niche sports programming leading up to each sport’s big event. For instance, in February, Peacock added IndyCar to its metadata ahead of the Daytona 500 as well as Golf during Master’s in early April.

Indycar on peacock tv pic.twitter.com/VhnTTBFBDN

— Loki (@Loki_Wachira) June 17, 2023

Using these strategies, Peacock is aiming at consumers who are forced by the platforms they are on to download mobile apps. Due to the password crackdown on rival streaming platforms, mobile apps have become crucial for authentication purposes before consumers can watch their favorite shows on big screens.

According to its Q1 report, Peacock has resultantly seen a 45% increase in revenue to $685 Million. This is also partly attributable to the removal of the platform’s free tier to solely focus on paid subscriptions.

Password Sharing Crackdown Attracts Subscribers

Notably, the password-sharing crackdown implemented by Netflix has not caused users to flee the apps as expected. In fact, Netflix reportedly saw an increase in subscribers reaching new highs for four consecutive days.

A report by data provider Antenna showed that the app saw nearly 100,000 daily signups on two of the days. Antenna reports that since the warning emails started going out, the app received an average of 73,000 daily signups. This was a 102% rise from the prior 60-day average, surpassing the peak in signups during the initial lockdowns of the pandemic.

Netflix’s increase in subscribers has also resulted in an increase in quarterly revenue from $7.852 billion in Q4 to $8.16 billion in Q1, as shown by statistics from Business of Apps. The app is set on an upward trend as it recovers from the drought it suffered post-Covid as users left the app after months of quarantine.

All in all, the entire video streaming industry is set up for new highs in terms of users. Consequently, the industry’s revenue is also set to increase as more consumers switch from conventional TV to streaming apps.

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