Media trends and the economic downturn
How the latest recession and rising inflation have affected media consumption
In times of crisis, entertainment often plays second fiddle to basic sustenance. When facing a choice between food on the table and an evening of leisure out on the town, the former will always win. Balancing between the need to treat themselves and at the same time responding to rising prices, consumers will re-evaluate their household budgets, with media spending likely to be one of the first to see cut-backs. Consumers, especially the younger ones, with less stable financial situation will be cancelling costly subscriptions and looking for alternatives.If so, how will media consumption change in the near future? And what influence will it have on the industry as a whole?
This report delves into media usage trends in the times of recession-related uncertainties and transformations of consumption behavior. Video and audio streaming, film, news, and general media spending are discussed and dissected to show the potential direction in which the industry is headed.
