In the future, Hollywood may find it challenging as audiences tend to prefer spending more of their leisure time on creator-focused entertainment and social media platforms over high-end content.
The survey conducted by Deloitte for its 19th consecutive year on consumer preferences regarding media and entertainment has revealed an important insight.
The 19th annual digital media trends survey carried out by Deloitte provides a significant finding about what consumers prefer in terms of media and entertainment.
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Deloitte’s 19th annual survey on consumer preferences for media and entertainment has shed light on a notable point.
According to the study, around 56% of Generation Z individuals and 43% of millennials questioned prefer social media content over conventional television programs and films, as they find it more pertinent. Additionally, nearly half of them report a stronger emotional bond with creators on social media compared to TV stars or actors.
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The survey reveals that about 56% of Generation Z members and 43% of millennials polled consider social media content more significant than traditional television shows and films. Furthermore, nearly half of them claim a stronger personal connection with the creators on social media compared to TV celebrities or actors.
As a devoted observer, I ponder over the fierce competition for people’s attention and time in today’s digital landscape, with traditional media squaring off against social media. According to China Widener, Vice Chair of Deloitte LLP and U.S. Technology, Media, and Telecom leader, this is particularly evident among Generation Z. They dedicate approximately 50 additional minutes each day to social platforms, whereas they reduce their time spent on traditional TV and media by around 43 minutes. In other words, when considering where they choose to invest their precious moments, it’s clear that while they do use both types of services, they lean more towards social media platforms than traditional ones.
In the struggle for consumer’s leisure time and focus, major players in the entertainment sector often find themselves facing stiff competition from massive technology companies that boast an abundance of content creators, each targeting specific niches.
As a passionate enthusiast, I’ve discovered through my own observations that younger audiences tend to place greater trust in creators and forge a deeper personal bond with them. This increased trust significantly boosts advertising engagement. Moreover, tech platforms brimming with AI-powered recommendations are serving to accelerate the consumption cycle even further, presenting yet another hurdle that conventional entertainment companies might struggle to surmount.
The appeal lies in the interaction with content creators, which is a key factor. Interestingly, our research reveals that a significant number of Gen Z and millennial users claim to have a stronger emotional bond with these social media influencers. Specifically, 52% of Gen Z and 45% of millennials surveyed admitted to feeling this closer connection. This suggests that these consumers often find it easier to relate to the creators they follow. Furthermore, our findings indicate that the advertisements and product endorsements on social media platforms hold more sway over their buying decisions compared to traditional marketing methods. They tend to trust these recommendations more.
Daily, creators are deluging social media platforms with an abundance of content, which AI-driven algorithms then direct towards consumers. On streaming platforms, recommendation systems are certainly present, but given the limited array of content available, keeping these viewers engaged might prove to be a complex task.
With AI increasingly shaping our work and leisure activities, the way social platforms are using it to tailor user experiences distinctively is significant, and could pose difficulties for conventional and streaming media to emulate this personalization,” Widener notes. He also emphasizes that this aspect deserves broader attention due to its subtleties.
The Deloitte survey additionally delved into the topic of value, revealing a growing discontent among consumers regarding the value delivered by paid streaming platforms. Close to half of the respondents expressed that they are overpaying for the Subscription Video on Demand (SVOD) services they subscribe to, while 41% believe the content doesn’t justify the cost.
There’s a growing trend towards value-oriented choices, such as free or advertisement-based streaming platforms (FAST), which are becoming increasingly popular, especially among the younger generation.
Widener expresses a sense of irritation because costs are escalating, there’s doubt about worth, and people are resorting to free, ad-supported services. If this annoyance isn’t addressed in proportion to the rising expenses, then the situation will persist, leading to discussions about new business models in the future. Essentially, if the companies providing these services can’t find a way to balance these price increases, they might need to reconsider their strategies.
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2025-03-25 15:24