Younger consumers are likely to drive India’s streaming growth, with majority planning to increase consumption in future: YouGov report
- Data from the “Global
MediaOutlook Report 2022” shows that urban Indian consumers expect to spend more time with digital media in the future than with any type of traditional media.
- 62% of consumers aged 25-34 plan to increase their video streaming consumption and 58% plan to increase their music streaming consumption over the next 12 months.
YouGov’s new report explores how media consumption has changed globally over the past 12 months and identifies the media behaviors consumers expect to follow in the future.
Data from the white paper shows that digital media has been the dominant media choices of urban Indians over the past 12 months, and it is likely to dominate their choices in the future as well. Projected increases in digital media sources include websites and apps (63% are likely to increase their consumption), social media (55%), streaming video (53%) and streaming music ( 49%).
Streaming video consumption is expected to grow across all age groups in India over the next 12 months, with
Similarly, within the audio industry, younger generations are expected to increase consumption of streaming music, as well as podcasts. About six in ten (58%) adults aged 25-34 plan to stream more music in the next 12 months, which is higher than other age groups’ expectations. Even though the future consumption of podcasts is expected to be lower than that of other media, its consumption is expected to skyrocket among young consumers (25-34 years old) in the country.
As far as subscriptions are concerned, we see once again the youth taking over. Across all age brackets, demand for VOD is highest among consumers aged 25-34, with almost half (49%) currently paying and likely to continue their subscriptions next year.
On top of that, one in ten respondents (10%) who are not currently paying said they might consider paying next year, representing a real opportunity for growth within this cohort.
That said, a considerable proportion are either ‘Cancellers’ (24%) – who are currently paying but are likely to cancel next year, or ‘Rejectors’ (17%) – who are not currently paying and do not probably won’t subscribe next year. Investing in better content, more regional content options and adjustments to subscription prices could help streaming platforms retain and grow their audience.
Similarly, in the case of music subscriptions, compared to all other age groups, a higher proportion of young adults (between the ages of 25 and 34) currently pay for music subscriptions and are likely to continue to pay for music subscriptions. next year as well. There’s still room for growth as 14% who currently don’t have a paid subscription could consider signing up next year.
Jules Newby, Head of Media Sector at YouGov, said: “Our report takes an in-depth look at the Watch, Listen, Read and Social media consumption channels. As consumer media consumption patterns continue to evolve and adapt to the disruption caused by the pandemic in different regions, our data sheds light on growth opportunities for media planners and brand marketers, while also revealing which digital trends are likely to persist in the future, and which global markets and demographics encourage this rigidity.
“In terms of the ‘stickiness’ of consumers’ media consumption behavior, our data suggests that a high proportion of consumers are unlikely to drastically change their media behavior over the next 12 months. When it comes to media consumption growth drivers over the next 12 months, all are digital. Video streaming services have further tightened their grip on viewers in the wake of the pandemic and are expected to see the strongest growth in consumption over the coming year.