Global Consumer Media Content & Tech Spend Grew 6.3% to $2.19T in 2022, Braking From Fastest Growth in a Decade in 2021, as Major Digital & Traditional Media & Tech Slow
STAMFORD, Conn., May 10, 2023 /PRNewswire-PRWeb/ -- 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, according to new research by PQ Media, the leading provider of media econometrics.
- 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, according to the Global Consumer Spending on Media Forecast 2023-2027 .
- 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.
- Additionally, some media content and tech are simply becoming obsolete, primarily due to improved distribution methods and/or the shift to newer digital media platforms.