Consumers will spend an average of £450 per person next year on media consumption, according to the findings of an annual report called ‘Media Futures’ carried out by the Henley Centre.
Despite the ever-increasing amount of media choice, the report does not predict that there is going to be a vast increase in consumer spending on media, but instead forecasts small shifts in consumption patterns in line with disposable income.
Sian Davies, communications director at the Henley Centre, stated: “Despite this explosion in choice, the increase in time and disposable income we spend on media has been minimal. In an already very competitive market only the canniest players, who understand how consumers trade off their time and money when making decisions, look likely to survive.”
Patterns of media consumption are set to change over the next five years, however. Television, boosted by digital and multi-channel TV, is due to do well in terms of money but not time. An extra £7 is predicted to be spent on viewing per person.
Books, recorded music, home computers and video games are expected to increase in time share but not money and Henley predicts that an extra £2 will be spent on interacting per individual, including the use of CD-ROMS, internet surfing and interactive digital TV services. Newspapers are expected to lose both time and money, with spend remaining generally static against reading based activity.
Sian Davies said: “Overwhelmed with choice, something that has already proved a popular success relieves the consumer of some of the burden of deciding between options and so becomes more attractive. For media owners, content owners and advertisers, hits, if handled well, are effectively brands that can be used to extend their influences within consumers’ lives and to secure further successes.”
Henley Centre: 0171 353 9961
