Research / Insights on current and emerging industry topics
US and global consumer spending on media content and technology continues to riseMarch 11, 2016 | By Research Team—DCN
US and global consumer spending on media content and technology rose 6.8% in 2015, decelerating from 7.8% growth in 2014, as spending on legacy internet media—including PCs, broadband and pure-play online content—slowed markedly due to the worldwide shift to mobile media, content, access and smart tech, according to the new Global Consumer Spending on Media Content & Technology Forecast 2015-19, the third and final installment in PQ Media’s annual Global Media Intellicast Series.
PQ Media predicts that the global consumer media spend will post a CAGR of 7.0% in the 2015-19 period, reaching $2.01 trillion in 2019, nearly double the 2009 level. The US market is projected to expand at a 5.3% CAGR in the forecast period.
Other highlights from the forecast include:
- The US remained the world’s largest overall consumer media content & tech market at $369.91 billion in 2014, and led in per-capita user spend with $1,160, although it ranked eighth in annual growth with 5.8%.
- Digital media spending grew 12% to $863.2 billion, while traditional media spend inched up 2% to $571.5 billion in 2014.;
- Average global consumer spend was $265.26 on media content & tech in 2014, with 60% dropped on digital media.
- The US and global consumer media content and tech spend is expected to grow 7% to $1.5T in 2015.
PQ Media defines digital media and technology as including media content obtained through the Internet on wireless and digital devices, including video-game consoles, over-the-top (OTT), pay TV services, and satellite radio receivers.
Traditional media content and technology spending is defined by content and technology developed originally in analog formats.