New PQ Media Research: Global Consumer Spending on Digital Media Content & Technology on Pace to Grow 12% to $1 Trillion in 2013 & Climb at 11% CAGR Through 2017
September 24, 2013 -- !-- AddToAny BEGIN -->
Stamford, CT (PRWEB) September 24, 2013
Driven by expanded broadband and wireless capabilities, increased demand for digital content and devices, and the emerging generation of digital natives, global consumer spending on digital media content & technology grew 11.9% in 2012 to $860.39 billion, according to a new report by PQ Media. Consumer digital media spending including unit purchases, subscription access, hardware, software and related services accounted for 58.7% of overall digital and traditional media content & technology expenditures worldwide in 2012, according to the PQ Media Global Consumer Spending on Digital Media Content & Technology Forecast 2013-17.
Consumer spending on digital media increased at a 14.5% CAGR in the 2007-12 period, while traditional media expenditures rose at a mere 1.4% compounded annually. Average spending per consumer worldwide nearly doubled in the 2007-12 period, reaching $161.83 per capita in 2012, according to PQ Media, a leading provider of economic research and strategic guidance to media industry executives. Concurrently, end-user spending on traditional media inched up only $3 over the five-year period.
The Global Consumer Spending on Digital Media Content & Technology Forecast 2013-17 is the third and final report in PQ Medias synergistic Global Digital Media & Technology Research Series. The third report tracks consumer spending on digital media content units and subscriptions, as well as consumer spending on digital media access, devices and software. It also delivers data on consumer traditional media spending for comparisons.
Consumer spending on digital media content & technology is on pace to grow 11.9% again in 2013, and is forecast to climb at a 10.8% CAGR over the next five years to $1.44 trillion in 2017. Digital media growth is being boosted by the rapid increase in penetration rates of smartphones and broadband internet access worldwide, as well as growing middle classes in the emerging BRIC markets, and heavy rich media consumption by GenX and Millennial consumers.
"The third installment in our groundbreaking research series confirms several key trends revealed in the first two reports. For example, the most tech-savvy markets are those with not only the worlds heaviest users of digital media, but also those with the highest per-capita annual spending on digital media and technology," said Patrick Quinn, President & Publisher, PQ Media. "The third report ties together data from the first two publications in that consumer digital media spending is fostering growth in digital media consumption, which is driving the shift in advertising and marketing budgets to digital media channels."
Total spending on broadband and wireless data subscriptions surpassed $100 billion in 2012, while four other digital media segments topped $50 billion, including digital games, apps & microtransactions; multiplayer online games; computer tablets; and computer laptops & notebooks. Per-capita spending on digital media will jump to $259.48 in 2017, an increase of almost $100 over 2012.
Other key findings from the report include:
- US consumer spending on digital media content & technology increased 7.1% to $158.79 billion in 2012, as America remained the worlds largest digital media market. The US is one of three nations that exceeded $100 billion in digital media expenditures, with China and Japan being the others;
- BRIC countries grew the fastest in the 2007-12 period, generating gains of more than 16% in 2012, led by Russia, up 18.2%. Brazil, India and China followed, and China will surpass the US as the worlds largest market in 2017;
- The average consumer in the most tech-savvy markets spent more than $800 per capita on digital media in 2012, led by South Korea ($965.54), Japan and Australia, the same three countries that led the world in digital media usage;
- Digital media spending exceeded 50% of total media content & technology expenditures in 10 of the top 15 countries worldwide in 2012, with South Korea ranked first (84.2% share), followed by China and Russia.
About the Global Digital Media & Technology Research Series
The new Global Digital Media & Technology Research Series is the only product line on the market to track, analyze and forecast the rapid transition of media operator revenues, consumer media usage and consumer media & technology spending from traditional to digital media in the 2007-17 period by country, platform, channel and cultural generation. To learn more about this groundbreaking Research Series or to request a live demonstration of any of the reports therein, contact PQ Media at 203-921-0368.
About PQ Media
PQ Media is a leading provider of economic research and strategic guidance to executives at media, entertainment and technology companies. Our research analysts study and forecast spending, distribution and consumption of media and technology products and services worldwide through more than 100 digital, alternative and traditional media channels.
Read the full story at http://www.prweb.com/releases/PQMediaGlobalMediaReport3/Sept242013/prweb11149661.htm.