Global consumer spending on media content grew 10.8% to $930.66bn in 2022: PQ Media
By M4G Bureau - May 12, 2023
US remains the largest consumer media and tech market.
PQ Media has released the 10th annual edition of its Global Spending on Consumer Media Forecast 2023-2027, delivering comprehensive and actionable strategic intelligence on consumer spending on digital and traditional media content and technology, including econometric data and analysis of the two overall spending sectors (media content and technology); five total spending segments (unit purchases, content subscriptions, access, devices, and software); and 28 digital and 14 traditional media content and technology categories.
The key takeaways are:
- Global consumer spending on overall media content and technology grew at a decelerated 6.3% in 2022 to $2.186 trillion, following an increase of 6.9% in 2021, the strongest growth in consumer media spending in a decade;
- Despite the relatively solid gain in 2022, the growth of consumer media spending – much like consumer media usage – began to decelerate in 2022, as expenditures on major digital and traditional media subscriptions, access and devices slowed considerably during the year;
- Global consumer spending on overall media content grew 10.8% in 2022 to $930.66 billion, while total media related technology spend rose 3.3% to $1.255 trillion;
- Consumer spend on digital media content and tech worldwide increased 7.9% in 2022 to $1.589 trillion, while end-user spend on traditional media content and tech was up 2.4% to $596.74 billion;
- The United States remained the largest consumer media and tech market in the world with total spending of $509.74 billion in 2022, while South Africa was the fastest growing of the Top-20 markets, rising 9.8%;
- Global consumers spent an average of $374.36 on all media content and tech in 2022, a 5.7% gain over 2021, of which $272.17 was spent on digital media and $102.19 on traditional media.