The DTG’s annual State of the Nation report has found while younger audiences may be turning to mobile and tablets for their entertainment, there is still a huge demand for the big screen.
One of the report authors, Futuresource Principal Analyst – Media and Entertainment, David Sidebottom said that for premium full-length content such as TV shows and movies, consumers are still prepared to invest in the living room. In the pandemic year there was an increase in TV sales of 19%, the highest in a generation.
There was a record 4 million sales of 4K TV sets.
However, in the report’s accompanying consumer survey, 24% of 16-30s not living with parents claimed not to have a TV. “The younger demographic in particular have a reliance on different devices. The question is whether it’s an age thing or a lifestyle thing, when they’re getting their own house, start having a family, do they then get their own TV,” said Sidebottom.
The pandemic has also brought about an increase in the amount of content viewed through streaming services and an increase in content overall. “Because of this acceleration we will see a longer-term uplift on streaming video viewing and content consumption generally. It’s brought consumers into the market earlier than it would have done and broadened the demographic.
While it’s anticipated that the take-up of streaming services will increase, consumers are expected to be savvier, potentially switching between streamers as new and different content becomes available.
State of the Nation 2021: Critical trends and consumer pain points Confirmation is available from the DTG next week.