Digital Media Trends 14th Edition – Press Release

New York, June 23, 2020

Key takeaways

  • U.S. consumers had an average of 12 paid media and entertainment subscriptions pre-COVID-19.
  • Eighty percent of U.S. consumers now subscribe to a paid streaming video service. Subscribers pay for an average of four services, up from three pre-COVID-19.
  • In just a few months, since the COVID-19 outbreak, 17% of current subscribers cancelled a paid streaming video service.
  • Forty-seven percent of U.S. consumers cited using at least one free ad-supported streaming video service during the pandemic as they search for budget-friendly entertainment.
  • Thirty-eight percent of consumers have tried a new digital activity since the pandemic began, such as watching a livestreaming event.
  • Fifty percent of Millennials would be willing to attend a sporting event in the next six months, compared with just 28% of Boomers.
  • A third of U.S. consumers and nearly half of Gen Z and Millennials say that video games helped them get through a difficult time.

Why this matters
Deloitte conducted a pre-COVID-19 survey December 2019 – January 2020 and a second survey in May following the onset of the pandemic. Together, the surveys[1] provide insight into how media consumption has changed. Deloitte found trends that were present pre-COVID-19 have accelerated, sometimes dramatically, in a short time.

Consumers have more time on their hands to watch, listen and play games. At the same time, it’s harder to keep customers as they can easily sample services via subsidized trial offers with no fear of penalties for cancelling. The pressures are likely to mount as consumers have less money to spend, with 39% of consumers reporting a decrease in their household income since the pandemic began. Media and entertainment companies can take this unprecedented moment to ask insightful questions and reevaluate their business in order to take advantage of windfalls, recover from setbacks, and thrive in the decade to come.

1 2 3 4 5 6 7

Share