BOSTON, June 4, 2015 /PRNewswire/ -- According to the recently published - UNDER ARMOUR: THE PATH TO SUCCESS IN DIGITAL HEALTH & FITNESS - report, Under Armour's blueprint for success in the digital health & fitness space should be mimicked by its competition – Nike and Adidas. In total Under Armour spent $710 million acquiring three of the top health & fitness app developers MapMyFitness, Endomondo, and MyFitnessPal.
The acquisitions provided Under Armour with a sizeable user base – 130+ million registered users, mostly via the acquisitions - and an expansive digital team – which grew from 60 in 2013 to an estimated 400 by year-end 2015. The Under Armour profile provided by Strategy Analytics' Application Strategies service highlights how Under Armour tuned their strategy for success.
Strategy Analytics' Mobile Apps Category Forecast 2008-2021 pegs total revenue for the health & fitness category at nearly $830 million at year-end 2015. Revenue is set to increase over time, in 2016 it is expected to be just under $925 million and eventually crossing the billion dollar mark during Q3 of 2018. Total revenue includes paid downloads, in-app purchases, subscriptions, and advertising revenue.
The author of the report, Adam Thorwart, would go on to say, "The arms race to be the top digital health & fitness provider is far from over. Key competitors like Nike and Adidas should be looking for ways to re-gain status in the industry. Meanwhile, Under Armour needs to not only focus on Nike and Adidas – it also needs to focus on Fitbit who recently acquired FitStar. This race is just starting to heat up."
According to Josh Martin: "We see health & fitness as one of the top trending categories moving forward. In fact, health & fitness app appearances in the top 100 have doubled in the US in the last few years. Under Armour is a key player and we expect to see Nike and Adidas become more involved as well."
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SOURCE Strategy Analytics