The new media landscape continues to take hold
Interesting to read the latest research into media consumption trends and how technology is changing everything we watch, read and buy forever. Looking at the findings by KPMG - which surveys UK consumers every six months - a key highlight reveals that 'streamed TV' is becoming more mainstream here in the UK with more and more people taking advantage of services like BBC iPlayer and 4oD.
Called 'The Barometer', the study found that 64 percent of respondants are willing to pay for films online while appetite to pay for TV has also been creeping up from 27 percent in September 2010 to 30 percent by October 2011.
David Elms, Head of Media at KPMG said:"Judging by our survey it seems that new entrants into the UK market have got their timing right. The foundations for online streaming services to be successful appear to be set. Not only is awareness and usage of streaming high, but willingness to pay for content has increased too. There are, however, barriers, not least the likely cost of set top boxes. What is more, by the end of 2012, everyone in the UK will have digital terrestrial TV, with the choice of between 20 and 30 channels. That’s a lot of free TV. It is possible that the majority of TV households don’t actually need anything more."
Other key findings show that smartphone and tablet usage and ownership continues to rise with more than three quarters of respondants using their smartphones to browse the internet and over two thirds are using them for social networking. Tablet usage has doubled since September 2010 and owners continue to use them for a wide range of activities, which means they're becoming more of an essential part of our lives.
What's more, the average spend on smartphone and tablet apps is increasing with eBooks taking the largest share.
Elsewhere, the survey also found that traditional media continues to decline - with the exception of watching television. In contrast, online newspapers and magazines as well as digital books are becoming very popular, a trend that is driven by the expanding tablet and eReader market. Interestingly, more than half of respondents said they had read an online newspaper in the last month.
But money spent on both traditional and new media has remained stable. Consumers will spend most on eBooks and music download but that's most likely because these are the most expensive to access compared to streaming music or TV, which at the moment tend to be free via online services.
David Elms added: "We continue to see mobile media as an attractive means to monetise content, given the continuing rise in the uptake of smartphones, tablets and eReaders. Whilst consumers continue to embrace new media at a rapid pace, a “mixed ecology” persists, with a majority still enjoying traditional media such as reading books or watching TV."
More than anything, it's fascinating to see the changing media landscape and how consumers are embracing new technology via tablets, smartphones and eReaders. How 2012 will shape up is something brands and businesses should continue to keep an eye on and adapt their marketing strategies accordingly.
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