Forecast: Look for content, tech spending to increase 6% in 2019

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Much of the increase will be due to an increase in subscription services. In the US, consumer spending on media content and tech is expected to reach $442.7 billion, making US consumers the highest spenders for the second. Per capita, however, Japanese consumers out-spend US, averaging $1,360.11 per person.

Much of the increase in spending in the New Year is expected to come from subscription services, which are helping to keep the media/tech spend growing, even at this slow pace.

“With an increased concentration on subscription services, single-unit purchases that drove consumer spending on media content and technology for decades are becoming less relevant, which has had a negative impact on overall growth,” said Patrick Quinn, President, PQ Media. “In 2018, most single-unit categories recorded either slowing or declining growth due to consumer switching to subscription-based services, which is making the number of blockbuster hits in media platforms that have long depended on them, like film, music, video and video games. Combines with slower growth in spending on digital media devices and access, the result is consumer media spending growth trailing that of aggregate global GDP in 2020.”

Video games are leading the category spend, accounting for nearly 14% of spending among digital and traditional media silos.

More data from the PQ Media forecast can be found here.

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ABOUT THE AUTHOR

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.