A new report from ZenithOptimedia has forecast that, between 2014 and 2017, global internet consumption will grow by 9.8% a year to reach 144.8 minutes a day – eating further into traditional media.
The amount of time spent consuming media around the world will increase by an average of 1.4% a year, reaching 506.0 minutes in 2017, with the internet’s share of overall media consumption set to rise from 12.9% in 2010 to 28.6% in 2017.
The consumption of every traditional media – including newspapers, magazines, TV, radio and cinema – fell between 2010 and 2014, directly because of competition from the internet, and Zenith expects their decline to continue to 2017. Only outdoor managed to buck the trend.
Newspapers – only in their printed form – have suffered the most from competition from the internet, followed by magazines. However, any time that consumers spend with broadcasters’ and publishers’ online brand extensions is included in the internet total.
Between 2010 and 2014 the average time spent reading newspapers fell by 25.6%, while time spent reading magazines fell 19.0%.
Television consumption fell by just 6.0%. Between 2014 and 2017 Zenith expects newspaper consumption to shrink by an average of 4.7% a year, while magazines and TV will shrink at average rates of 4.4% and 1.6%, respectively.
The amount of time people are exposed to outdoor advertising increased by 1.2% between 2010 and 2014, from 106 to 107.2 minutes a day.
This is the result of several factors the authors conclude: more displays being built in public spaces, migration to cities in emerging markets, and consumers’ greater willingness to spend their leisure time out of the home as their disposable income recovered after the financial crisis.
Between 2014 and 2017 Zenith expects exposure to outdoor advertising to increase by 0.2% a year.
Despite its recent, relatively minor, decline, television remains by far the most popular of all media globally, attracting 183.9 minutes of consumption a day in 2014. Internet consumption came a distant second at 109.5 minutes a day.
Television accounted for 42.4% of global media consumption in 2010, and 37.9% in 2014. Zenith suggests it will still account for more than a third (34.7%) by 2017.
“The average person already spends half their waking life consuming media,” said Jonathan Barnard, ZenithOptimedia’s head of forecasting.
“But people around the world are clearly hungry for even more opportunities to discover information, enjoy entertainment and communicate with each other, and new technology is supplying these opportunities.
“Technology also enables brands to communicate with and learn from consumers in new ways. We expect media consumption to continue to grow for the foreseeable future, multiplying the opportunities for brands to develop relationships with consumers.”
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