Revenue & Business Model of MyFitnessPal

1
(No Transcript)
2
Global Health and Fitness App Market
Overview The global fitness apps saw a surge of
first-time installs early during the COVID-19
pandemic and have continued to witness elevated
consumer demand. As a result, worldwide installs
of top 100 wellness apps that include home
fitness, spiritual well-being, and diet
nutrition exceeded 200 million for the first time
in April 2020, exceeding 1.2 billion for the
year. At the same time, the monthly spending on
wellness apps shot above 100 million per month
in March 2020. In the first ten months of 2020,
consumers spent a record 1.1 billion globally on
wellness apps. 
Increasing demand for health assessment and
rising health consciousness is anticipated to
drive market growth in the fitness app market,
augmented by the increasing usage of wearable
devices, smartphones, and tablets. This has
resulted in presenting tremendous opportunities
for companies.
3
What is MyFitnessPal? Headquartered in San
Francisco, California, MyFitnessPal is one of the
most popular fitness and nutrition apps. It
allows users to track their dietary intake and
physical activity and provides personalized
recommendations and tips based on the users
goals. Recognized as one of the best weight loss
and fitness apps by Time Magazine, US News
World Report, Forbes, Business Insider,
Huffington Post, etc., the app boasts over 200
million registered users and is available in 19
languages.  MyFitnessPal offers a premium
subscription service that gives users access to
additional features such as detailed nutrient
analysis, custom meal plans, and exclusive
content from health and fitness experts. 
4
Business Revenue Model For A Fitness App Like
MyFitnessPal 1. Value Proposition MyFitnessPal
provides a comprehensive and easy-to-use platform
that helps users track their progress and improve
their health. The app offers a database of over
11 million foods, a barcode scanner, and
monitoring over 350 activities. MyFitnessPal also
provides support and motivation through peer
groups, challenges, and rewards. 2. Key
Resources The MyFitnessPal website and app, its
team of developers, customer support staff, and
other employees, its database of food and
exercise information, and its partnerships with
other companies in the fitness industry. The
company also invests in marketing to promote the
app to new users.
5

• 3. Key Partnerships MyFitnessPal has
  partnerships with fitness tracking devices and
  apps, food and beverage companies, and fitness
  studios. These partnerships help expand the apps
  reach and make it more useful for users.
• Data partners MyFitnessPal has partnered with
  several data providers in order to offer its
  users a comprehensive food and exercise database.
• Hardware partners MyFitnessPal has developed
  integrations with many wearable fitness devices
  and apps, including Fitbit, Jawbone,
  MapMyFitness, Endomondo, RunKeeper, Strava,
  Garmin, and Nike. These partnerships allow users
  to automatically sync their activity data with
  MyFitnessPal. In addition to generating revenue
  from premium memberships, these partnerships also
  help MyFitnessPal acquire new users.
• Content partners MyFitnessPal has partnered with
  content providers like Livestrong and shape.com
  to offer its users health and fitness articles.

6
4. Key Activities MyFitnessPals key activities
include maintaining its food and exercise
information database, developing new features for
the app, and partnering with other companies in
the fitness industry. MyFitnessPals key
activities include developing and maintaining the
app, partnering with other companies, and
marketing the app to potential users. 5. Revenue
Streams MyFitnessPal follows a freemium business
model, which means it offers a basic version of
the app for free and charges for premium
features. This pricing strategy has allowed the
company to tap into a larger market and generate
revenue from users willing to pay for additional
features. The app generates revenue through
in-app purchases, subscriptions, and
advertising.  In 2019, the company generated an
estimated 140 million in revenue.
7
6. Cost Structure MyFitnessPals costs include
the cost of developing and maintaining the app,
the cost of hosting its database, the cost of
advertising, the cost of marketing, and the cost
of partnerships. 7. Customer Segments MyFitness
Pal is designed for anyone interested in
improving their health and fitness. People who
are interested in tracking their calorie intake
and physical activity levels. The app is
particularly popular with people trying to lose
weight, gain muscle, or eat healthier.
MyFitnessPal is also popular with athletes and
other people looking to track their progress and
set goals.
8
8. Customer Relationships  MyFitnessPal offers
free basic membership and premium membership. The
premium membership gives users access to
additional features, such as detailed nutrient
data and the ability to set goals and track
progress over time. The company has a dedicated
customer support team that is available to help
users with any questions or problems they might
have. MyFitnessPal regularly updates the app with
new features and improvements based on user
feedback. 9. Channels  MyFitnessPal uses
direct/online channels to reach its customers.
The company also has a strong social media
presence, with over 2 million followers on
Instagram. MyFitnessPal has a website while the
app can be downloaded from the App Store or
Google Play.
9
How much does it cost to create a fitness app
like MyFitnessPal? The average cost to create a
fitness app like MyFitnessPal can range anywhere
from 10,000 to 100,000. The price tag will
depend on the features and functionality included
in the app, as well as the size and scope of your
project. If youre hoping to create a more
complex app with multiple features and
functionality, youll likely need to budget for
the higher end of that range. Ultimately, the
best way to get an accurate estimate for your
project is to consult with a professional app
development company.
If you are a health-focused entrepreneur with an
innovative take on apps such as MyFitnessPal,
youre at the right place. Oyelabs has extensive
experience building world-class apps that are
helping millions of people get healthier every
day our expert development team can help you
create an app that truly stands out. So, schedule
a free meeting to kick start your entrepreneurial
journey!