Market research and data analytics firm, YouGov has released the ‘Global Media Outlook Report 2022’. The publication takes deep dives into the ‘Watch, Listen, Read and Social’ channels of media consumption across 17 territories, including India.
Reportedly, urban Indian consumers are expected to engage with digital media more than other traditional types of media in the future. Digital avenues have been the preferred choice among urban Indians in the last year, and they are likely to influence their choices in the future too.
Among projected increases in digital media sources are websites and apps (63% are likely to increase their consumption); social media (55%); streaming video (53%); and streaming music (49%).
Of note is the fact that, consumers in Asia are much more likely to increase their interaction with social media in the next 12 months compared to their European counterparts. Driven by young populations and large social media user bases, Indonesia, India, and UAE register the highest proportion of consumers who intend to increase their interaction with social media in the next 12 months.
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.”
Video
Video streaming consumption will increase across most age groups in the next year. Consumers between 25-34 years are will experience a higher increase in consumption (62%) as compared to 35-44-year-olds (52%) or 55+ (41%). As a result, younger audiences will drive the demand for video streaming services and overall influence the content of the future.
The countries with the highest proportion of viewers planning to increase their use of video streaming services in the next 12 months include India, UAE, Mexico, and Indonesia.
Audio
Within the audio industry, younger generations will give streaming music and podcasts a shot in the arm. About 58% adults between 25-34 are expected to stream more music in 2022, a higher number compared to other age groups. Indians’ podcast consumption is set to soar among younger audiences (25-34) more than the global demand for the medium. This median age of consumers are most likely to boost the consumption of streaming audio in the next year.
Subscription
Again video on demand is most supported by younger audiences, from 25 to 34. Almost half (49%) paying for content and likely to continue next year. Additionally, 10% of respondents who do not currently pay, said they might consider paying next year.
Cancelers, who currently pay but are likely to cancel next year are touted at 24% while Rejectors who do not currently pay and are unlikely to subscribe next year amount to 17%.
When it comes to music subscriptions, a huge portion of younger audiences are paying for their content and are likely to continue paying next year as well. About 14% who currently do not have a paid subscription may consider signing up next year.
Read the full report here
