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PQ Media: Consumer Digital Media Usage Pacing to Grow 12% in 2014; Growth in Traditional Usage Slows to 1%; Media Time Spent Globally Up 3%; US Digimedia Use Up 8%


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PQ Media: Consumer Digital Media Usage Pacing to Grow 12% in 2014; Growth in Traditional Usage Slows to 1%; Media Time Spent Globally Up 3%; US Digimedia Use Up 8%

STAMFORD, CT (PRWEB) November 19, 2014

Consumer digital media usage is on pace to grow 12.3% worldwide in 2014, driven by double-digit gains in time spent with all nine mobile media channels, three online media channels and the surging OTT segment, according to the new edition of PQ Media's annual KPI benchmark report covering time spent with digital, alternative and traditional media. Surging global demand from iGens, Millennials and GenXers for mobile video, social media and videogames; online video and books; and over-the-top (OTT) video will push up consumer digital media usage 13%this year to 6½ hours on average per week, according to the PQ Media Global Consumer Usage of Digital Media Forecast 2014-18.

PQ Media defines and segments consumer digital media usage consistently across all 15 leading global markets by three broad platform categories (internet media, mobile media, and other digital media) and 21 specific media channels, including online and mobile video, online and mobile social media, online, mobile and console videogames, and digital OTT video and digital out-of-home (DOOH) media.

Of the three digital media platforms, consumer mobile media usage worldwide rose the fastest in 2013, rising 24% during the year, while consumers spent the most time with internet media at 2.58 hours weekly. OTT video was the most used digital media channel. Meanwhile, traditional media usage inched up only 1.3% in 2013 to 37.99 hours per week, a slight deceleration from 2012. Combined, overall global consumer media consumption grew 2.8% to 6 Hours, 15 minutes and 17 seconds daily.

The most surprising result was the surge of OTT video usage, primarily due to the global expansion of Netflix and an increase in SmartTV penetration, said Patrick Quinn, CEO, PQ Media. This spurred reaction on numerous fronts including: a) Pay TV providers upgrading video-on-demand (VOD) services; b) networks placing more content onto free VOD services within shorter windows, c) the proliferation of new digital video-recorder services, particularly in Europe; and d) the announcement in 2014 by HBO, among others, that it will offer a stand-alone subscription-based streaming video service.

Other major trends driving digital media usage:

o    With the increase in smartphone and tablet penetration, internet usage has begun to exhibit decelerating growth as consumers access sites via their wireless devices;

o    Despite major revenue gains by leading social media sites like Facebook, a transition is taking place as younger subscribers prefer to connect with friends on newer websites, such as SnapChat, Vine and market-specific sites.

o    Videogame usage rose with the release of the Xbox One and PlayStation4, both on consoles and the digital extensions of the popular titles;

o    Consumer exposure to DOOH continues to rise, propelled by networks expanding into new venues and locations, and even-year sporting events generating higher engagement with DOOH screens providing the latest results.

Looking at demographics, the study found that Gen X led all other age groupings with an average of 7.36 hours of digital media consumption, which may seem odd, given that Millennials are considered the most avid mobile and social media users. PQ Media noted the ranking is skewed by the BRIC countries, where older, wealthier people are more able to afford expensive digital media devices. Furthermore, iGens (those born since 1995), have the highest share of total digital media use worldwide, at 18.3%, fueled by their affinity for gaming across online, mobile and console platforms.

From a market perspective, the United Kingdom ranked first in digital media usage at 16.87 hours per week, followed by South Korea, Australia, Canada and the US. Several commonalities exist among these markets: broadband penetration rates exceeding 70%; over 50% smartphone penetration; growing demand for computer tablets; young men who are heavy console gamers; a range of OTT video devices and services; and advanced DOOH operators and signage deployments. But low penetration rates in emerging markets have translated into governments scrambling to invest in technology upgrades, some of which were linked to the 2014 sporting events, fueling the fastest growth rates for digital media usage in 2013, led by Brazil at a 21.1% gain, followed by Russia and India.

Going forward, consumer digital media usage is forecast to grow at a 10.6% compound annual growth rate (CAGR) worldwide in the 2013-18 period, reaching 9.60 hours per week in 2018, and accounting for 19.5% of all media consumption worldwide. Online media will remain the most often used digital media platform at a weekly average of 3.61 hours in 2018, while mobile media will remain the fastest growing digital platform, climbing at a 17% CAGR through 2018.

GenX will remain the largest users of digital media in 2018 at 12.05 hours a week, while digital media engagement among iGens will represent 31.6% of their total media consumption in 2018. In some countries, such as Australia, the iGens will use digital media more than traditional media. The U.K. will remain the market in which consumers use digital media the most at 25.55 hours weekly, while India will post the strongest increase during the 2013-18 period, rising at a 14.9% CAGR.

About the Report: This updated and enhanced report delivers media consumption data from the 2008-13 period, growth pacing for 2014, and the outlook for 2015-18. Included are exclusive analysis, rankings and forecasts of media consumption per week, growth, and fast-growing platforms & channels, as well as analysis of media consumption across five generation segments (iGen, Millennials, GenX, Boomers, Greatest Gen) and both genders. Global and market-specific data cover four regions, with detailed profiles of the Top 15 Global Markets, including the US, as well as media sectors, platforms, and channels.

About PQ Media
PQ Media is a leading provider of econometric data and strategic insights to executives in the global media, entertainment and technology industries. PQ Media employs a proprietary econometric methodology to provide clients with actionable strategic intelligence to achieve their growth objectives. The PQ Medianomics research system relies on comprehensive databases, proprietary algorithmic models and exclusive industry leader panels to track, analyze and forecast media operator revenues, end-user consumption and consumer spending in more than 100 digital and traditional media channels worldwide.

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