Coronavirus Impact: In second phase fitness platforms plan to get brands on board for additional revenue

By: |
Published: April 21, 2020 10:57 AM

Fitness applications like CureFit, Home Workout have seen a 104.53% increase in daily active users according to a report by Bobble AI

5-10 million users of the total e-commerce population which is about 200 million are ready to pay Rs 2,000 - Rs 3,000 per month for e-fitness services5-10 million users of the total e-commerce population which is about 200 million are ready to pay Rs 2,000 – Rs 3,000 per month for e-fitness services

As more and more fitness apps take to social media to advertise, people at home now can learn an array of moves from yoga to dance. “We have launched free virtual live classes with celebrities and experts which have created a lot of buzz driving organic downloads,” Naresh Krishnaswamy, head of growth and business, CureFit said. The health app claims to have doubled the number of downloads with as many as 2.2 lakh users attending its digital live classes every day.

With most of these platforms advertising on social media such as Facebook and Instagram – the cost of customer acquisition is minuscule compared to pre Covid-19, time. More importantly, customers are willing to pay for these services, hence – these apps are able to monetise. “Compared to ed-tech platforms which are currently free-to-use, these apps come with in-app purchases besides monthly subscription plans. 5-10 million users of the total e-commerce population which is about 200 million are ready to pay Rs 2,000 – Rs 3,000 per month for such services,” Sreedhar Prasad, Internet business expert, said.

According to industry analysts, within the health world, yoga apps lead the chart followed by fitness apps, health meal providers, among others. “A slew of initiatives for mental wellbeing such as meditation, anxiety and stress therapy, as well as video consultations with doctors and health experts have received massive traction from consumers,” Krishnaswamy added. Apps such as CureFit, Home Workout among others have seen a 39.50% increase in time spent with a 14.72% increase in engagement rate, and 104.53% increase in daily active users according to a report by Bobble AI – tracker of usage of mobile apps.

Moreover, apps such as HealthifyMe have forayed into new initiatives such as immunity assessment tests that are provided free of cost on the platform. The initiative launched by the e-fitness platform aims to provide free consultation by a trained coach to those who score low in the test. “We want people to use the lockdown to build healthier habits and improve their immunity,” Tushar Vashisht, CEO, HealthifyMe said.

Interestingly, these platforms now plan to use the high user base to focus on building additional revenue streams. According to Jayam Vora, co-founder, Fitternity, the surge will enable brands in converting virtual platforms into a key revenue stream post the lockdown. “Video on demand (VOD) will be an entry funnel to get a lot of health conscious users deeper their experience online,” he added. The gym aggregator platform which had a user base of one million users prior to the lockdown saw 30% of its subscribers switch to online classes within a few days of the announcement of virtual classes.

Industry experts believe that for fitness apps to stay relevant in the long-run, these platforms need to focus on customising and upgrading. For Jagdeep Kapoor, chairman, Samsika Marketing Consultants as long as these brands are able to design, reinvent, tailor their content regularly by monitoring and incorporating consumer feedback, users will continue to stick to these platforms.

Read Also: Casio encourages citizens to #StayHomeStayTough

Follow us on Twitter, Instagram, LinkedIn, Facebook

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

BrandWagon is now on Telegram. Click here to join our channel and stay updated with the latest brand news and updates.

Next Stories
1Wunderman Thompson Kolkata wins CenturyPly account for corporate and panel division
2Paytm to acquire general insurer Raheja QBE to expand its financial services offerings
3Everymedia Technologies bags digital and PR mandate for Whiskers