My last Stimulating Statistics 2013 blog looked at how user behaviour has changed, and continues to change online as a response to a complex and evolving digital world. In today’s blog I will explore how media consumption has changed and what this could mean to you and your organisational objectives.
Over the past few decades the media landscape has changed dramatically. The invention and widespread public use of radio and television massively altered the distribution of broadcast information and the shape of the entertainment industry. But, it was the dawn of the Internet era that has probably made the biggest impression on how we consume, and now also co-create, media in the modern world.
Let’s take a look at some statistics that really showcase how things have changed and the impact that this has had on user behaviour and consumption:
- We live in an age of information overload and hyperchoice - over 27 million pieces of content are published/shared on the Internet every single day.
- The digital consumption of press has now overtaken print, with 61% of consumers preferring to read the news via their PC, laptop, tablet or mobile.
- Interestingly, men are 40% more likely than women to opt for digital magazines over printed publications.
- In a recent survey it was found that younger generations deemed social media an important research tool when looking for new products, with digital having a far greater influence over purchase decisions than traditional media.
- It is estimated that around a third of all UK homes now own an ereader of some kind, highlighting the rapid growth and potential of the ebook and emagazine market in 2014.
- The first ever photo was taken in 1826, but by 1960 about 3 billion photos were being taken every year. Fast forward to 2012 and we were taking around 380 billion photos per year!
- There are around 6.8 billion mobile phone subscriptions worldwide, which is put into perspective when compared with a global population of 7 billion people (although it should be recognised that many individuals will have more than one mobile phone subscription).
- Photography has reached new heights with an explosion of affordable digital cameras and smartphones accessible to the general public. In fact, around 700 million smartphones were shipped around the world in 2012 and it is predicted that there are over 1 billion smartphones in use today.
- Studies estimate that around 10% of all photos ever taken were taken in the past year alone.
- Consumers are more vocal in today’s digital world - 40% of personal travelers and 46% of business travelers share their travel experiences via social media.
- Social media and digital platforms have instilled a fundamental shift in the way we communicate, aiding rapid word of mouth through user-generated content such as social updates, reviews and forums.
- Consumer-generated content is populating the web and is deemed considerably more credible by other users - over 35 hours of video are uploaded to YouTube every single minute and over 3 billion photos are uploaded to Facebook each month.
These are just a few examples of how digital has revolutionised the way we consume media and how it will continue to affect the way we attract, reach, and engage our target audiences as marketers. The overriding theme is that modern marketing is all about a 2-way dialogue, not a 1-way broadcast, and that nowadays much of the power rests with the consumer.