2023
9
UK Media Trends – Spring 2023
2023-04-02T04:02:38+01:00
OX1157491
2195
161995
[{"name":"Consumer and Market Trends","url":"https:\/\/store.mintel.com\/industries\/consumers-trends\/consumer-market-trends"},{"name":"Media and Marketing","url":"https:\/\/store.mintel.com\/industries\/media-marketing"}]
Report
en_GB
“The cost-of-living crisis has forced consumers, particularly those struggling financially, to make decisions as to whether they prioritise spending on media or other aspects of their life. Some consumers are…

£ 2,195 (Excl.Tax)

Description

“The cost-of-living crisis has forced consumers, particularly those struggling financially, to make decisions as to whether they prioritise spending on media or other aspects of their life. Some consumers are now spending more on social media content, such as YouTube videos, as a result of the cost-of-living crisis, highlighting how valuable they see such content and their level of dedication to their favourite personalities.”

–   Zach Emmanuel, Consumer Technology Analyst

This report discusses the following key topics:

  • Trends in purchasing of media content.
  • Trends in media activities and use of devices.
  • Changes in spending on media due to the cost-of-living crisis.
  • Plans for expenditure on media subscriptions over the next six months.
  • Type of media subscription people are most inclined to cancel.

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Products covered in this Report
    • Related Reports
  2. Executive Summary

    • The consumer
    • The cost-of-living crisis has encouraged some to increase spend on media
      • Figure 1: Spending more or less on media due to cost-of-living crisis, 2022
    • Netflix’s clamp down on password sharing could drive Baby Boomers to get their own ad-based subscriptions
      • Figure 2: Intent to spend less on subscriptions in next six months, 2022
    • It is more important than ever for music subscriptions to engage Younger Millennials with high resolution songs
      • Figure 3: Subscription service to cancel, 2022
    • Social media influencers are a key way to inspire men to buy books
      • Figure 4: Purchases of printed media, DVDs or CD album, 2018-22
    • Lower income homes to prioritise video game purchases ahead of other media
      • Figure 5: Purchases of media discs or vinyl, 2018-22
    • Music subscriptions should focus on mood boosting qualities to retain Younger Millennial users
      • Figure 6: Subscriptions to video and music streaming services, 2018-22
      • Figure 7: Subscriptions to written media subscription services, 2018-22
    • TikTok is a key avenue to target consumers interested in music albums and singles
      • Figure 8: Paid downloads including video games and music, 2018-22
      • Figure 9: Paid downloads including magazines and podcasts, 2018-22
    • Promoting music memorabilia through radio shows can tap into Generation X’s engagement
      • Figure 10: Free media activities, 2018-22
    • Free games can lead to subscriptions even for those struggling financially
      • Figure 11: Free media activities, 2018-22
    • Discounting e-books is less necessary with Baby Boomers
      • Figure 12: Technology device used for media activities, 2022
    • Younger Millennials’ shift away from TV sets could boost market for 5G devices
      • Figure 13: Technology device used for watching short videos or TV, 2022
  3. Impact of Cost-of-living Crisis on Media Spending

    • The cost-of-living crisis has encouraged some to increase spend on media
    • Men are less likely to have reduced spending on print books despite decrease in purchases
    • Spending more on social media content points to loyalty towards internet personalities
      • Figure 14: Spending more or less on media due to cost-of-living crisis, 2022
      • Figure 15: Spending more or less on media for those struggling financially, 2022
    • Focus on mobile advertising to maximise spending on TV and film content
      • Figure 16: Spending more on TV/film crossed by device used to watch TV/films, 2022
    • Men more likely to have increased spend on visual media than women
      • Figure 17: Spending more or less on media, by gender, 2022
  4. Subscription Cancellations

    • Nearly a third of consumers will spend less on subscriptions in first half of 2023
      • Figure 18: Intent to spend to less on subscriptions in next six months, 2022
    • Cost-of-living crisis leads Generation Z and Millennials to be more selective over their subscriptions
    • Netflix’s clamp down on password sharing could drive Baby Boomers to get their own ad-based subscriptions
      • Figure 19: Intent to spend less on subscriptions in the next six months, by generation, 2022
    • Text-based media should focus on yearly subscription promotions
      • Figure 20: Subscription service to cancel, 2022
    • It is more important than ever for music subscription brands to engage Younger Millennials with high resolution songs
      • Figure 21: Choosing to cancel music streaming services, by generation, 2022
  5. Purchases of Physical Media

    • Social media influencers are a key way to inspire men to buy books
      • Figure 22: Purchases of printed media, DVDs or CD album, 2018-22
    • Higher income earners move away from purchasing video games
    • Lower income homes prioritise video game purchases ahead of other media
      • Figure 23: Purchases of media discs or vinyl, 2018-22
      • Figure 24: Video game disc purchases, split by low and high earners, 2022
      • Figure 25: Purchases of physical media for those with a household income of under £9,500, 2022
    • Vinyl purchases help to re-ignite HMV revenue success
  6. Subscription Services

    • Netflix showed signs of recovery at end of 2022 following poor start to the year
    • Disney+ to increase prices which puts further pressure on consumers
      • Figure 26: Subscriptions to video and music streaming services, 2018-22
    • Promotions of streaming service and TV package bundles will engage Younger Millennials
      • Figure 27: Financial situation for Younger Millennials, 2022
    • Music subscriptions should focus on mood-boosting qualities to retain Younger Millennial users
      • Figure 28: Subscriptions to video streaming, music streaming and TV services for Younger Millennials, 2022
    • Newspaper and magazine subscriptions return to pre-COVID-19 levels
    • Newspapers increase gaming focus to re-ignite consumer interest
    • The New York Times reports positive investor relation results following Wordle acquisition
    • Loyalty schemes can keep Older Millennials subscribed to e-book services
      • Figure 29: Subscriptions to written media subscription services, 2018-22
      • Figure 30: Subscriptions to e-books, by generation, 2022
  7. Media Downloads

    • Discounts for frequent movie renters could encourage purchases from consumers struggling financially
    • Bookshop.org to add e-books to provide another competitor for Amazon
      • Figure 31: Paid downloads including video games and music, 2018-22
      • Figure 32: Paid downloads including magazines and podcasts, 2018-22
    • TikTok has become a key avenue to target consumers interested in music albums and singles
      • Figure 33: Music album and single downloads for lower income homes, 2022
  8. Media Activities

    • Promoting music memorabilia through radio shows can tap into Generation X’s engagement
      • Figure 34: Free media activities, 2018-22
      • Figure 35: Listening to radio, by generation, 2022
    • Arcade-style games can provide Older Millennials with the escapism to deal with cost-of-living stress
      • Figure 36: Free media activities, 2018-22
      • Figure 37: Older Millennials’ playing of free video games, 2022
    • Free games can lead to subscriptions even for those struggling financially
      • Figure 38: Playing free video games, by financial position, 2022
  9. Devices Used for Media Consumption

    • Heavily discounting e-books is not necessary with Baby Boomers
      • Figure 39: Technology device used for media activities, 2018-22
    • Younger Millennials’ shift away from TV sets could boost market for 5G devices
      • Figure 40: Technology device used to watch short videos or TV, 2022
      • Figure 41: Technology device used to watch TV for Younger Millennials, 2022
  10. Appendix – Data Sources, Abbreviations and Supporting Information

    • Value
    • Abbreviations
    • Consumer research methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

Below is a sample report, understand what you are buying.

Click to show report
2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

Trusted by companies. Big and small.

Want to speak to us directly?

Contact us with your enquiry and our expert global team can help.

Get in touch