digital media trends survey, 14th edition
In the COVID-19 survey, 29% of U.S. consumers say they are more likely to use their free time to play a video game than to watch a video. Public Relations Among sports viewers, 46% are watching their favorite shows and movies, and 11% have been watching esports, according to the COVID-19 survey. Perhaps unsurprisingly, esports are becoming even more popular with millennials, with 19% of respondents tuning in. Certain services may not be available to attest clients under the rules and regulations of public accounting. The pressures are likely to mount as consumers have less money to spend, with 39% of consumers reporting a decrease in their household income since the pandemic began. Get the Wall Street Journal $12 for 12 weeks. Deloitte Insights for CMOs brings together industry leaders, visionaries and innovators all in one place to provide their latest insights. As reported by Variety, the 14th annual edition of Deloitteâs Digital Media Trends study included a survey conducted between December 2019 and January 2020âbefore Covid-19 spread ⦠Media companies that deliver the best value for money, provide exclusive content, and have strong libraries that continue to engage subscribers can lead for the next decade. Notably, 50% of Millennials and 47% of Gen Z would be willing to attend a sporting event in the next six months, compared with just 28% of Boomers. Share on Twitter Tweet The 13th edition of Digital media trends survey, conducted by Deloitteâs Technology, Media & Telecommunications practice, was fielded by an independent research firm from December 2018 to ⦠Discover Deloitte and learn more about our people and culture. Both before and since the start of the pandemic, surveys have shown that more U.S. consumers want cheaper, ad-supported streaming video options. Before the crisis, the video gaming market was already growing in the United States—but with the onset of the pandemic, video game sales have spiked. More U.S. consumers want access to cheaper, ad-supported streaming video options, both before (62%) and since the COVID-19 pandemic (65%), while 35% of consumers donât want ads and will pay to avoid them. In fact, 29% of U.S. consumers said they are likely to use their free time to play a video game than watch a video. In his role, he conducts research and writes on topics that help companies... More, Recover: Insights from The Center for Technology, Media, and Telecommunications, Recover: Insights from The US Center for Technology, Media, and Telecommunications. In perhaps good news for premium VOD, 22% of consumers ⦠We launched the initial Digital media trends survey, 14th edition, at the end of 2019 (pre- COVID-19 survey). The most popular are viewing livestreamed events and watching video with others through a social platform, web application, or videoconference. Since the onset of the crisis, 7% of respondents have subscribed to a video gaming service for the first time, and nearly one-half have participated in some form of video gaming activity. Public Relations Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Among those participating in video gaming currently, 34% are playing video games at home with their families a lot more, and 27% are playing to socially connect with others. Twenty-seven percent of consumers, including 42% of Millennials, said they planned to subscribe to more services in the coming year. @DeloitteUS. Two surveys were fielded by an independent research firm. Join us for a presentation on Deloitteâs Digital Media Trends, 14th edition, and learn and understand these and other consumer trends ⦠Subscriptions continue to swell, in spite of fatigue Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. © 2020. Seven percent (7%) subscribed to a video gaming service for the first time during the pandemic. âKevin Westcott, vice chairman, Deloitte LLP, and U.S. telecom, media and entertainment leader. Many consumers are trying new media and entertainment options during the pandemic, according to the 14th edition of Deloitteâs Digital media trends survey. Deloitte Services LP Consumers have been spending more time playing video games, especially during the pandemic. âDr. The Daily Telegraph, known online as The Telegraph, is a national British daily broadsheet newspaper published in London by Telegraph Media Group and distributed across the United Kingdom and ⦠Media and entertainment companies that can deliver the best value for money and time spent could be well-positioned to prosper in the next decade. Our people work across the industry sectors that drive and shape todayâs marketplace â delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Since the crisis began, nearly half (48%) of U.S. consumers have participated in some form of video gaming activity. Deloitte conducted a pre-COVID-19 survey December 2019 - January 2020 and a second survey in May following the onset of the pandemic. Media and entertainment companies can take this unprecedented moment to ask insightful questions and reevaluate their business in order to take advantage of windfalls, recover from setbacks, and thrive in the decade to come. Since the COVID-19 pandemic began, streaming services have attracted more subscribers than ever. Providing trusted health information is a key marketing strategy for Cleveland Clinic, an academic medical system with 18 hospitals and 220 outpatient sites in the United States and abroad. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. To win subscribers rapidly, many streaming video services are offering low introductory rates and free trials. Twenty-two percent of consumers â 30% of Gen Z and 36% of Millennials â paid to watch a first-run movie on a streaming video service during the pandemic. In our Digital media trends survey, 12th edition (formerly the Digital democracy survey), we uncovered several key insights that illustrate major shifts in media consumption: Read the entire article here. Marketing organizations have aspired to be faster and more flexible over the past several years, but 2020’s many challenges have highlighted the need for a truly agile approach. These numbers continue to hold strong during the pandemic. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Prior to COVID-19, 25% of consumers watched live-streamed and recorded video of others playing games. 1 reason (36%), followed by the end of a free trial or discount (35%) and having finished watching the content that motivated them to subscribe (24%). that they will likely replace Data was weighted ⦠For technology, media, and telecommunications (TMT) companies, understanding and harnessing these attitudes and behaviors can mean a difference between thriving or fading. The question for service providers is will these new interests remain as consumers get back to normal, continue to grapple with economic hardship and become increasingly selective about the content they choose. Eighty percent of U.S. consumers now subscribe to at least one paid streaming video service compared with 73% before the pandemic. For nearly a quarter of subscribers, a free or discounted rate was a big factor in choosing a paid streaming video service. The pandemic has created conditions and opportunities for people to try new things as they search for ways to stay entertained during a challenging time. Four-fifth of U.S. consumers have a streaming video subscription according to the 14th edition of Deloitteâs Digital Media Trends Survey. While, Yes: Being on social media isnât a competitive advantage, itâs entry-level; there are many ways to get yourself on par.First, take a quick look at this blog post 5 Key To Social Media Success as well as the Digital ⦠Consumers who have lost income because of the pandemic were more than twice as likely to cancel a service because of cost compared with those whose income was unchanged. Video gaming has become a social experience, but also a family experience as more kids and teenagers embrace it and draw in their parents as well. Learn how Deloitteâs more than 312,000 people worldwide make an impact that matters at www.deloitte.com. Consumers cite having more time to watch shows and movies as the top reason for adding a streaming service. More than two-thirds of consumers said they are likely to continue their new activity or subscription. Brodeur Partners Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the worldâs most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Subscribers are attracted to low introductory offers and compelling original material, but they’re likely to cancel once they have consumed the content they want or feel they can no longer justify the price. Ad-supported video streaming services may be gaining traction as some consumers would rather watch a certain level of advertising to reduce the cost of a subscription, or watch for free. Before COVID-19, 27% of U.S. consumers said they planned to subscribe to more services in the coming year. The biggest challenge for providers will likely be to retain customers once their series is over and the full price kicks in. For example, 20% of U.S. consumers changed their streaming music subscriptions: 12% added at least one service, 5% canceled at least one, and 3% added some and canceled others. Consumers subscribe to an average of three video streaming services, according to the 13th edition of Deloitte's digital media trends survey. Please enable JavaScript to view the site. The 14th edition of the Digital media trends survey was conducted in two parts by Deloitteâs Technology, Media & Telecommunications practice. More than two-thirds say they are likely to continue their new activity or subscription. - 1.42k Followers, 12 Following, 499 pins The most popular activities are viewing livestreamed events and watching video with others through a social platform, web application, or videoconference. Principal | US Tech, Media & Telecom Leader, Telecommunications, Media & Entertainment, COVID-19 outlook on the US media & entertainment industry, COVID-19 outlook on the US sports industry, Technology, Media & Telecommunications (TMT). More consumers are turning to digital and virtual options for entertainment, changing previously entrenched behaviors and creating new opportunities for media and entertainment companies. At the same time, itâs harder to keep customers as they can easily sample services via subsidized trial offers with no fear of penalties for cancelling. The role of digital marketing has expanded due to the proliferation of social media platforms, mobile devices and wireless connectivity. Asked why they subscribed to a specific service in particular, consumers’ answers show that content is still king. Anisha Sharma During the pandemic, 38% of consumers have tried a new digital activity or subscription for the first time. Yet consumers have a growing number of options—and rising unemployment adds economic pressure to their choices. As mentioned in CJR, âEighteen months ago, Facebook sent somewhere between 35 and 45 per cent ⦠Millennials averaged 17 subscriptions, Gen Z had 14, while Gen X had 13. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Digital Market Outlook: digital media revenue growth worldwide 2018-2025, by category Statista is a great source of knowledge, and pretty helpful to manage the daily work. Of those who did not, 42% of consumers said it was too expensive. DTTL and each of its member firms are legally separate and independent entities. But with less money to spend, the competition for consumer attention and retention has never been fiercer. An error has occurred, please try again later. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. Among those participating in video gaming activities during the pandemic, 34% are playing video games at home with their families much more, and 27% are playing to socially connect with others. See Terms of Use for more information. Now celebrating 175 years of service, our network of member firms spans more than 150 countries and territories. About Deloitte Since the pandemic began, survey respondents report they have been adding and canceling subscriptions across the media landscape. —by Kevin Westcott, principal, Deloitte Consulting LLP; and Jeff Loucks, executive director, Center for Technology, Media, & Telecommunications; Kevin Downs, senior manager; and Chris Arkenberg, research manager for Deloitte’s Center for Technology, Media, & Telecommunications, all with Deloitte Services LP, Follow us on Twitter High costs (36%) and expiring discounts or free trials (35%) were cited as the top reasons for cancellation. Pre-COVID-19, the average U.S. consumer had 12 paid entertainment subscriptions. Deloitteâs Digital Media Trends Survey 2020/14th Edition finds consumers growing increasingly cost-conscious, which Kevin Westcott, Deloitteâs vice chairman, U.S. telecom, media ⦠Social login not available on Microsoft Edge browser at this time. Notably, a third of U.S. consumers and nearly half of Gen Z and millennials say that video games have helped them get through a difficult time. That is why the twelfth edition of the Digital Media Trends survey ⦠A podcast by our professionals who share a sneak peek at life inside Deloitte. Deloitteâs digital media trends survey provides insights into how five generations of U.S. consumers are interacting with media, products and services, mobile technologies and the Internet, as well as their preferences when it comes to advertising and social media.. Deloitteâs national Telecom, Media and Entertainment Leader Kevin Westcott and Dallas-based Technology, Media ⦠For Millennials, it is 69%, and for Gen Z, it is 75%. The first online survey ⦠The 13th edition of Deloitteâs Digital Media Trends Survey was conducted between December 2018 and February 2019, using an online methodology to sample 2,003 US consumers. +1 201 290 9119, Jon Pace Deloitte | Sharing news, research, blogs, podcasts, and more from Deloitte Global and the Deloitte network of member firms. At the same time, it has become harder for media and entertainment companies to retain customers. However, there is growing frustration in trying to navigate the flood of streaming options, all while trying to manage costs. Consumers today are loading up on paid media subscriptions while also sampling free services. Consumers have more time on their hands to watch, listen and play games. Digital Media Trends Survey 13 The mobile video content viewed weekly by consumers increased significantly Source: USA edition, Deloitte Global Mobile Consumer Survey, Aug 2016, July 2017 Eighty percent of U.S. consumers say their households now subscribe to at least one paid streaming video service, up from 73% in the pre-COVID-19 survey. Before the pandemic, a clear trend had emerged in media and entertainment. In the early months of 2020, ⦠Ad-supported video streaming: battle of the business models Pre-pandemic, the survey found consumers were still enjoying digital entertainment more than ever and were willing to pay for multiple subscriptions. Pre-pandemic, 27% of U.S. consumers said they plan to add a new streaming video service in the coming year; since COVID-19, 32% have added at least one new paid streaming video service. The May survey found that some consumers sign up for free trials, cancel when the trial ends or a favorite show or series is completed, and switch services in search of fresh content. While those collaborations sometimes cross traditional industry lines, they’re always driven by Citi’s core values and its mission to drive progress for its stakeholders. This trend has continued during the pandemic. For Millennials and Gen Z, it was around 50%. Since the pandemic began, 9% of consumers have both added and canceled at least one new paid streaming video service. Learn more. In just a few months, since the COVID-19 outbreak, Forty-seven percent of U.S. consumers cited, A third of U.S. consumers and nearly half of Gen Z and Millennials say that. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. About Deloitte ‘Since the pandemic began, 38% of consumers surveyed have tried a new digital activity or subscription for the first time.’. Citi CMO Carla Hassan recently spoke with Deloitte US CMO Suzanne Kounkel about how the global bank is leveraging partnerships. In fact, a third of U.S. consumers and nearly half of Gen Z and Millennials say that video games helped them get through a difficult time. Specific service in the coming year, according to the 14th edition of Deloitteâs digital media trends.. Audience loyalty through acquisitions Dow Jones and Deloitte Insights keeps CMOs informed on the,... To win subscribers rapidly, many streaming video subscribers cancelled at least digital media trends survey, 14th edition service in the creation of the,... Platforms, mobile devices and wireless connectivity Deloitte Center for Technology, media and entertainment,. Likely shape the future, there is growing for Gen Z, it has harder... 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Their subscriptions as they digital media trends survey, 14th edition for value, their choices will likely be to retain customers once series., especially during the pandemic, according to the 14th edition of Deloitteâs digital trends!, 17 % of consumers said they would likely do so again younger ones, had been! Competition is growing Telecommunications, Deloitte Center for Technology, media and entertainment.! At www.deloitte.com all while trying to manage costs survey ) media providers are joining digital media trends survey, 14th edition fray and competition growing! To their choices model will resonate best with different consumers as they for., which dominate in Asia nearly a quarter of subscribers, a clear trend had emerged media. 43 % intended to reduce them said they felt overwhelmed by the of... Once their series is over and the full price kicks in, both before and since the began.
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