Global data company YouGov has released “Global Media Outlook Report 2022”, inspecting the changes in the consumption of media in the past 12 months and identifying the media behaviors that will stick.
The report states that in the next 12 months, young consumers, between 25-34 years will be driving streaming growth in India, with 64 per cent of them intending to increase video streaming consumption and 58 per cent intending to increase music streaming consumption.
In the past 12 months, urban Indians have chosen digital mediums over traditional mediums dominantly and will continue to do so. Among projected increases in digital media sources are websites & apps (63 per cent are likely to increase their consumption), social media (55 per cent), video streaming (53 per cent), and music streaming (49 per cent).
For streaming video, consumers between 25-34 years are expecting a higher increase in consumption (62 per cent) as compared to those aged 35-44 (52 per cent) or 55+ (41 per cent). Similarly, for the TV and audio industry, young consumers are set to dominate the demand, with their plans to increase consumption of live TV (55 per cent), non-live TV (45 per cent), and music streaming (58 per cent ).
The report also states that across all age groups, demand for video-on-demand (VOD) is the highest among young consumers, with almost half (49 per cent) currently paying for, and likely to continue with their subscriptions next year. Moreover, 10 per cent of the respondents who do not currently pay, said they are considering paying next year.
Similarly, a large proportion of young individuals pay for music subscriptions and more are to join soon.
Jules Newby, sector head – media, YouGov, said, “Our report takes deep dives into the Watch, Listen, Read and Social channels of media consumption. As consumer media consumption patterns continue to evolve and adapt to the pandemic-caused disruption across different regions, our data sheds light on growth opportunities for media planners and brand marketers alike, whilst also revealing which digital trends are likely to stick around in the future, and which global markets and demographics are encouraging this stickiness.”
“When it comes to the ‘stickiness’ of consumers’ media consumption behavior, our data suggests that a high proportion of consumers are unlikely to change their media behavior in the next 12 months. Looking at the growth drivers of media consumption in the next 12 months, all are digital. Video streaming services have further tightened their grip on viewers in the wake of the pandemic and are likely to register the biggest growth in consumption in the coming year,” Newby added.