As National Ad Spend Declines, Fair Share Is Key radioink.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from radioink.com Daily Mail and Mail on Sunday newspapers.
Report: Streaming services push media spending surge
Consumers may have cut back on eating out and even typical clothing/apparel purchases in 2020, but they didn t cut back on entertainment. That is a key takeaway from new PQ Media data, which shows a 6% increase in consumer media spending (global) for the year.
Much of that spending increase was focused on audio/video streaming and gaming soft- and hardware. The global spend hit $2.01 trillion for 2020. Prior to 2020, consumer media spending was increasing at a rate of about 3% per year. For 2021, the experts believe growth will continue at about a 6% YoY increase. PQ Media expects the growth of consumer spending on media content and technology will begin to decelerate markedly in 2022 and 2023, as many of the pandemic-driven forces that sparked the atypical end-user spending splurge in 2020 begin to fade in the second half of 2021, as the COVID-19 vaccine rolls out worldwide, adult workers begin returning to office buildings a
Forecast: Look for media usage to slow post-pandemic
While most advertisers and content creators saw a sharp uptick in growth from the consumer side throughout the initial months of the Coronavirus pandemic, one new forecast warns that a deceleration is likely on the horizon as more people are vaccinated and businesses begin to reopen.
PQ Media has released their 2020-2024 Global Consumer Media Usage forecast and among the more interesting predictions is this: global media usage will likely be flat, with only an expected 1% increase is usage; in 2020 usage across both online and offline media increased nearly 3% to more than 50 hours per week per user on average. Digital media usage, however, saw a nearly 10% growth rate as consumers stayed home to shelter-in-place during lockdowns.