• by Jack Loechner , Staff Writer @mp_research, May 10, 2016

According to new research from PQ Media, US consumer spending on media content & technology rose 4.9% in 2015 to $388.06 billion, while global consumer spending on media increased 6.8% in 2015 to $1.532 trillion. Key growth drivers expected to spur a slight growth acceleration this year, says the report, includes major upgrades to tech and telecom systems in leading markets, and lower price points for digimedia access and devices.

PQ Media analysts found that while digital and traditional media technology accounted for nearly two-thirds of consumer spending on media content, access and technology, content spend is growing faster as more traditional media is repurposed for digital media devices. This trend is likely to remain a key driver of consumer spend through 2019, says the report. Despite a continued slow economic recovery in key developed markets and the nebulous outlook in emerging markets, such as Brazil and China, the study indicates that media content remains hit-driven despite economic cycles, evidenced by the popularity of the Harry Potter series, and the more recent blockbuster addition to the Stars Wars trilogy.

PQ Media CEO, Patrick Quinn, notes that “… Governments in several key markets have passed major tech and telecom initiatives… bring(ing) digimedia access to rural areas… in addition, growing verticals such as manufacturing and outsourcing… (support) the growth of a new middle class in developing nations… where young urbanites… expand their use of various digital media…”

Concluding, the report notes that the U.S. is largest consumer spend on media market in 2015, ranked 12^th in overall growth among the Top 15 markets, and 11^th in share of digital media in overall advertising & marketing revenues.

Summarizing, the report forecasts that global consumer media spend will post a CAGR of 7.0% in the 2015-19 period, reaching $2.01 trillion in 2019, nearly double the 2009 level. US market is projected to expand at a 5.3% CAGR in the forecast period. Other highlights from the Forecast include:

• US remained the world’s largest overall consumer media content & tech market at $369.91 billion in 2014, and led in per-capita user spend with $1,160, although it ranked eighth in annual growth with 5.8%
• Digital media spending grew 12% to $863.2 billion, while traditional media spend inched up 2% to $571.5 billion in 2014
• Average global consumer spend was $265.26 on media content & tech in 2014, with 60% dropped on digital media

For additional information from PQ Media and access to the complete report, please visit here.