How Australians Are Consuming Different Media & Entertainment
How are Australian consumers interacting with the changing media, entertainment and technologies channels? Glad you asked! According to Deloitte’s 2014 Media Consumer Survey several of the highly anticipated “digital tipping points” have already arrived, as Australian media and digital preferences are changing.
The report has focused on Australian consumers’ interaction with four clear segments:
Internet, social media and advertising
E-books, magazines and news
The results have been based on data collected online between March and April 2014 in eight countries. In particular, over 2300 consumers were surveyed in Australia, focusing on five distinct age groups that span across four generations. The focus of the report is to provide a snapshot of how consumers are interacting with different media, entertainment and technologies and look at forecasting future behaviour and preferences.
The survey looks to find the answer to several key questions, including how we like to be entertained, what are our preferred technologies and devices, what and who we respond to, and how we use social media networks.
A significant tipping point in Australians’ media consumption habits is rapidly approaching! In the next six months the Internet is expected to usurp television as the preferred method of entertainment. This is based on assumptions that it will continue to grow at a rate of 10 percent year on year, as it has done for the past three years. This is great news for internet advertising, exposing opportunities for increased customer engagement.
Another interesting point regarding the Australian entertainment industry is the rise in binge television viewing. Watching the television (on any device) still ranks as our favourite source of entertainment (64 percent). In fact, 72 percent of survey respondents revealed they watch three or more episodes of their favourite TV series back-to-back.
More and more Australians are becoming ‘Digital omnivores’. Over the past three years the number of Australian survey respondents who own a laptop, smartphone and table has risen by a whopping 53 percent. Australia now ranks higher than the US and Japan, but lags behind China and Norway. This is most likely due to the substantial rise in ownership of tablets.
It is interesting to note the five percent increase in Australians connecting their TV sets to the Internet to receive media and content, such as streaming music, movie and TV shows. Australians are also spending more time multi-tasking while watching TV. In fact, 79 percent of survey recipients reported that they habitually watch TV while engaging on average with three additional activities.
INTERNET, SOCIAL MEDIA & ADVERTISING
It is becoming easier for marketers to gain detailed insights into consumer preferences and demands, as consumers are leaving extensive trails of data and information throughout the internet. Advancing analytics tools are enabling marketers to extract and collect this data, and to use it to develop comprehensive consumer profiles. These data insights can then be used by marketers and businesses to develop much more efficient marketing strategies which can be specially targeted.
Social media has also experienced significant growth, with more than half (54 percent) of Australian survey respondents revealing they check or update their social media between one to 20+ times per day. This is an exceptional increase – up 170 percent from last year!
The survey also revealed the enormous potential that social media offers advertisers: one third (33 percent) of participants revealed they believe advertising through social media platforms influences their buying decisions.
The survey also revealed forecasts for the Australian advertising market to grow to $12 billion and Internet advertising in Australia to reach $4.5 billion in 2014. In fact, Internet advertising is expected to grow by 17% over the next two years.
Furthermore, although television marketing is still the most influential form of mass advertising in terms of buying behaviour, the effectiveness of ads that appear during or after an online video is reportedly increasing. 33 percent of surveyed respondents ranked these ads in the top three greatest influencers on their buying decisions.
E-BOOK, MAGAZINE & NEWS
Good news for the e-book industry: 68 percent of survey respondents who buy e-books are purchasing more digital books than they ever used to buy printed books. Furthermore, 66 percent of respondents who purchase e-books are actually reading more digital books than printed books!
Good news for the print magazine industry: In Australia 49 percent of surveyed respondents revealed that print is still their preferred method of reading magazines. This is interesting to note given the underlying shift towards digital consumption and preference over the past three years.
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Infographic and graphs via Deloitte