The Evolution of Media Consumption: A 2024 Perspective
In the ever-evolving landscape of media, the year 2024 marks a significant milestone. According to PQ Media’s Global Consumer Media Usage Forecast, the average global media consumption is set to increase by 2.3% to 57.5 hours weekly. This growth resumes after a marginal 0.3% rise the previous year, indicating that media engagement continues to thrive despite nearing a saturation point.
The Rise in Media Engagement
Last year, consumers worldwide dedicated an average of 8.2 hours daily to media, a notable increase from 7.3 hours in 2018. This uptick reflects the growing integration of media into everyday life. Interestingly, men outpaced women in media usage, averaging 57.2 hours weekly compared to women’s 56 hours.
Generational Shifts in Media Use
The disparity in media consumption across generations is striking. The m-Gen, born post-2013, recorded a 10.4% surge in media use, the highest among all groups, albeit from a lower base of 28.5 hours weekly. Conversely, the Greatest Generation, the most avid media consumers, saw their usage climb by 9.6% to an impressive 86.5 hours weekly.
Digital vs. Traditional: The Changing Tide
The narrative of traditional media has reached a pivotal chapter. Last year, traditional media usage declined by 3.1% globally, settling at 35.1 hours weekly. Despite this, it still eclipsed digital media’s 21.1 hours. However, the winds of change are blowing, with digital media projected to expand by 8.7% to 22.9 hours weekly, while traditional media is expected to dip by 1.5%.
The Last Stand of Traditional Media
PQ Media’s forecast suggests a bleak future for traditional media, predicting 2022 as the final year of growth, with print books being the sole segment to witness a marginal increase. Yet, traditional media still commands a majority share of 62.5% in global media consumption.
The Digital Dominance Among Younger Generations
The iGen, or Gen Zers, are at the forefront of the digital revolution, allocating over half of their media time to digital platforms. Millennials follow closely, with nearly half of their media engagement being digital.
Platform Popularity: TV and Radio Lead the Way
Television remains the dominant medium, accounting for nearly half of all media consumption at 27.5 hours weekly. OTT video is the star within the digital realm, claiming 7.8 hours of TV time. Radio holds its ground, albeit at a lesser extent than TV.
The Fastest-Growing Digital Channels
Mobile video leads the charge in digital media growth, with an 18.6% increase in 2023. Mobile books, games, and audio, including podcasting, follow suit, marking these as the sectors to watch in the United States.