Claims by traditional media companies such as News Corp that the great online migration of consumers is ending are as self serving as they are wrong. In fact new research shows the growth of the internet continues to have a demonstrable and corrosive impact on traditional media.
The latest evidence is contained in a new study called Media Consumption Forecasts, from ZenithOptimedia, which also found that consumers will spend an average of 492 minutes a day consuming media in 2015, up 1.4 per cent from 485 minutes a day in 2014, with the increase fuelled entirely by the growth in internet usage, which will rise by 11.8 per cent.
ZenithOptimedia’s figures are merely the latest confirmation of the ongoing erosion of the mainstream. Last month for instance in her State of the Internet address Mary Meeker noted that television, and newspapers in particular are still receiving far more advertising support than their performance warrants.
According to Media Consumption Forecasts, “Global media consumption increased from an average of 461.8 minutes a day in 2010 to 485.3 minutes a day in 2014, an increase of 5.1 per cent, or an average of 1.2 per cent a year. Over these years, the amount of time people spent using the internet nearly doubled from an average of 59.6 to 109.5 minutes a day, while time allocated to more traditional media shrank from 402.2 to 375.8 minutes.”
The authors say mobile technology in particular has created new opportunities to consume media, by allowing people to access the internet while engaged in other activities such as shopping, commuting to work, or waiting to meet friends.
“We forecast that, between 2014 and 2017, the amount of time spent consuming media around the world will increase by an average 1.4 per cent a year, reaching 506.0 minutes in 2017. Meanwhile, internet consumption will grow by 9.8 per cent a year to reach 144.8 minutes a day. The internet’s share of overall media consumption will rise from 12.9 per cent in 2010 and 22.6 per cent in 2014 to 28.6 per cent in 2017.”
(Image source: Statista)
As business intelligence site Statista notes in its report on the study, “In 2014, people spent 110 minutes a day online, up from just 60 minutes in 2010. Meanwhile traditional media usage, i.e. TV, newspapers, magazines, radio and cinema declined from 402 to 376 minutes a day.”
Statista observes that while television consumption fell by just six per cent between 2010 and 2014, the print industry is suffering most from the new digital competition. “Newspaper and magazine consumption dropped by 26 per cent and 19 cent, respectively, since 2010 and is expected to see further declines in the next few years.”
This article originally appeared on www.which-50.com