The growing desire for digital content does not appear to be at the expense of ‘old’ media.
People still spend marginally more time offline than online. However, 70 percent feel the choice of digital content is wider, and more than half say they have greater access to online media. Nevertheless, consumers continue to devote a higher proportion of their monthly expenditure to traditional media – particularly to TV/video and live events.
For every type of digital media, more respondents increased their spend than decreased it. In contrast, certain types of old media saw a net decrease in expenditure, namely packaged forms like CDs, DVDs, and video games.
However, a relatively high proportion of consumers (for example, over 30 percent in Singapore and 14 percent in the US) now prefer to watch TV via their mobile or tablet. And with a growing preference for streaming TV and video online, the next generation of consumers will seek a more mobile TV experience.
Television is no longer a single experience as ‘digital multi-taskers’ interact with tablets and smartphones while simultaneously watching TV. Media companies may attempt to tap into these ‘second (and third) screens' through social media, but such integration is only partial, and consumers’ attention is diverted away from the ads that fund most traditional broadcast content.
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