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PQ Media, Following Fastest Growth in 15 Years in 2020

PQ Media, Following Fastest Growth in 15 Years in 2020
Written by Publishing Team

Deviating from the sharp increase in momentum in advertising and marketing spending in 2021, consumer time spent with the media registered a more modest rise, similar to pre-pandemic trends through 2019 when signs of saturation of device penetration began to appear, according to new research released today. by PQ Media.

Deviating from the sharp increase in momentum in advertising and marketing spending in 2021, consumer time spent with the media registered a more modest rise, similar to pre-pandemic trends through 2019 when signs of saturation of device penetration began to appear, according to new research released today. By PQ Media, a leading media economist.

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Global consumer media use, including all digital and traditional media channels, grew at a slowing rate from 1.6% to an average of 54.4 hours per week (HPW) in 2021, slowing from the 3.1% boost caused by the pandemic in 2020, which was The fastest increase in annual media consumption in 15 years, according to PQ Media’s 2021-2025 global consumer media usage forecast.

COVID-19 and the lockdown measures used to stop its spread have shaken the media economy in 2020 in a way that reverses secular trends that have led to lower growth in media use in some sectors, including many digital media channels, while cyclical trends are expected to boost Use has been delayed in other sectors, such as the Summer Olympics, and emerging growth trends in new media, such as the advent of video and audio broadcasting, have accelerated.

Although growth in media use slowed in 2021 due to many states easing COVID mandates as cases fell, allowing businesses to reopen and hiring new employees, as well as executives returning to offices and students returning to classrooms, the gains were higher than It was expected and more. in line with pre-pandemic levels. This was due to three factors which included: a) the unusual cyclical loading of the Summer Olympics, which had been postponed from the previous year; b) Some major markets need to tighten pandemic restrictions when COVID-19 variants emerged in late Q3 and Q4 requiring some consumers to stay home again; c) The resistance of some employees to return to their positions and the so-called “Great Resignation of 2021”, as workers leave their jobs in record numbers.

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A by-product of the pandemic is an acceleration of the shift to digital media consumption, rising from 22% in 2015 to an estimated 33.4% globally in 2021. In most developed countries, the share is over 40%, and South Korea will become the number one market which the entire population averages more than 50% of digital media use in 2022. Specific generation groups already publish more than 60% of digital media use, such as millennials in the Netherlands.

This shift is a result of strong growth in global digital media use, which increased by 8.3% in 2021 to 18.15 HPW, after a twofold increase in 2020, while traditional media consumption is expected to decline by 1.4% in 2021 to 36.23 HPW , the fifth consecutive year of decline, according to PQ Media’s annual global consumer media usage forecast for 2021-2025.

The main digital media growth drivers were mobile video, online video streaming services, podcast and audio streaming services, digital books, digital out-of-home (OOH) and video games (console and digital), according to PQ Media. Meanwhile, traditional media usage has declined across most media platforms, with the exception of print books, OTA radio, and traditional OOH, the latter two of which are fueled by more cars on the road that exceeded pre-pandemic levels in 2019. Cinemas acceptance doubles in 2021, the traditional movie industry in general has suffered a decline in usage due to declining DVD sales.

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