Global consumer media usage, including all digital and
traditional media channels, grew a slight 0.3% in 2023 to an
average of 56.2 hours per week (HPW) in 2023, following a sharp
growth acceleration in end-user time spent with media in 2022 of
3.0%, fueled by major political elections in many of the top 20
global markets, as well as the Winter Olympics in China and the FIFA World Cup in Qatar, according to research released today by
PQ Media.
STAMFORD, Conn., May 1, 2024
/PRNewswire-PRWeb/ -- Global consumer media usage, including all
digital and traditional media channels, grew a slight 0.3% in 2023
to an average of 56.2 hours per week (HPW) in 2023, following a
sharp growth acceleration in end-user time spent with media in 2022
of 3.0%, fueled by major political elections in many of the top 20
global markets, as well as the Winter Olympics in China and the FIFA World Cup in Qatar, according to research released today by
PQ Media, the world's leading provider of media econometrics.
"The 2023 results show that media
consumption is nearing PQ Media's previously forecasted saturation
point, as digital device penetration has almost peaked, and has
begun posting declines in several major global markets, including
the US. Consumer media usage grew at its slowest rate in
2023."
The 2023 results show that media consumption is nearing PQ
Media's previously forecasted saturation point, as digital device
penetration has almost peaked, and has begun posting declines in
several major global markets, including the United States – the world's largest media
market. Consumer media usage grew at its slowest rate in more than
a decade in 2023, some of which was the result of high inflation
that caused consumers to cut discretionary spending on media like
books, videogames, print subscriptions and streaming services,
according to PQ Media's 11th annual Global Consumer Media Usage
Forecast 2024-2028
"Media consumption, however, will post accelerated growth in
2024 with general elections in the United
States, Mexico,
Japan, Taiwan, India
and South Africa, as well as the
Summer Olympics in Paris, that
will drive media usage rates in most of Western Europe that are in the same time zone
or within an hour," according to PQ Media CEO Patrick Quinn. "In 2026, we'll see this same
phenomenon in the Americas when the
United States, Mexico and
Canada tri-host the FIFA World Cup
and, again, in 2028 when the Summer Olympics are held in
Los Angeles."
The decelerating growth rate in 2023 was not unexpected, nor is
the accelerated rise in 2024, as media consumption rates have
fluctuated for decades between even and odd years, with the
exception of years in which there are major economic recessions.
That is, during a recession, media consumption rises as people are
out of work and have more time to engage with media, and often use
media as a cathartic tool to help alleviate the stress associated
with hard times.
Another trend which continued in 2023 is the shift from
traditional media to digital media, with digital rising to command
an overall market share of 37.5% globally, up from 27.0% in 2018.
While some of the part-time media researchers and industry trade
newsletters might question this statistic as being too low,
remember that both India and
China have populations over 1
billion, with a high percentage living in poverty and unable to
afford internet access and mobile phones, among other emerging
nations with the same population profile. That said, there are many
countries that digital media usage accounts for over 50% of total
media consumption, such as South
Korea, the Netherlands and
Spain.
Among the six key generation groups tracked in the Global
Consumer Media Usage Forecast 2024-2028, i-Gens (born between
1996-2012) already exceed the 50% digital media usage threshold and
Millennials (born between 1981 and 1996) will join them in 2024.
Another reason that overall digital media usage is under 40% is due
to the Great Generation (born before 1945), which are the heaviest
media users worldwide at 86.51 hours weekly and use digital media
only 27.4% of that time.
"With the rapid shift to digital media usage, 2022 will be the
last year in which traditional media will ever post positive
growth," PQ Media's Quinn added. "While live sports, like the Super
Bowl and UEFA Champions League, drive broadcast and cable TV usage,
video streaming was the fastest growing media channel in 2023, some
of which was driven by live sports programming now found on Amazon
Prime's Thursday Night Football, for example."
Meanwhile, growth in radio usage – the second most-used medium –
is being driven by podcasting and streaming audio subscription
services. Among other key findings from the new report:
- The average global consumer spent 8.21 hours per day with media
in 2023, up from 7.29 hours in 2018;
- Ad-supported media accounted for 53.3% of consumer time spent
with media in 2023, down from a 55.8% in 2018, while in 11 markets,
including the US, consumer-driven media exceeded 50%, led by
Spain at 57.3%;
- From a demographic perspective, the Greatest Gen use media the
most, while m-Gens (born after 2012) use media the least, averaging
only 28.47 hours weekly in 2023;
- TV (including live, digital, streaming and OTT) video) remains
the most used of the 11 video platforms PQ Media tracks, reaching
27.5 hours weekly last year, while film & home video posted the
fastest growth, up 8.7%, fueled by consumers returning to movie
theaters, as more blockbusters were released compared with
2022;
- Mobile video posted the highest gain of the 22 digital
channels, up 16.6% in 2023, while OTT video was the most used
digital channel at 7.83 hours per week;
- Print books were the only traditional media platform to post
growth in 2023, up 1.3%, a sharp deceleration from the 4.1% gain in
2022 when more bestsellers were released.
About the Forecast:
PQ Media's 11th annual Global Consumer Media Usage Forecast
2024-2028 delivers the world's most comprehensive and actionable
media consumption intelligence covering the 2018-2028 period; the
Top 20 Global Markets and the Rest of the Countries in each of the
4 major global regions; 25 digital media platforms & channels;
11 traditional media platforms; 11 hybrid (digital + traditional)
media silos; 6 consumer generations; and both genders.
The new edition includes in-depth econometric data and market
insights delivered through a Report & Analysis providing 450
slides of analysis and 600 datagraphs; and a Deep-Dive Excel
Databook delivering 250,000 data points examining all media
platforms, channels, and markets worldwide. Click the link above to
download free report samples and to buy a copy of the report.
About PQ Media:
PQ Media delivers intelligent data and analysis to the world's
leading media organizations via syndicated market intelligence
reports, custom drill-down research, and on-demand strategic
consulting. which includes three reports that cover the industry's
KPIs: advertising & marketing spending; consumer media usage;
and consumer spending on media. Click the link above to download
free report samples and for details about our Special Three-Report
Bundle License.
Media Contact
Patrick Quinn, PQ Media, 1
2039215249, pquinn@pqmedia.com, https://www.pqmedia.com
Leo Kivijarv, PhD, PQ Media, 1
2039215249, lkivijarv@pqmedia.com,
https://www.pqmedia.com
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