A new report by YouGov finds that two in five (39%) Singaporeans aged 18-24 are expected to up video streaming consumption, following an already accelerated rate of growth in such services amid the pandemic.
YouGov’s Global Media Outlook Report 2022 explores how consumption of media has changed globally in the past twelve months and identifies which media behaviours consumers are planning to stick with in the future.
Although video streaming is likely to dominate consumption, traditional video media will persist at a steady level, with proportions across all age groups to increase their consumption. The greatest anticipated increase will be seen in those aged 45-54, with 25% and 22% of them to up use of live and non-live TV respectively. Given that Singapore as a nation is faced with an ageing population, as outlined in Singapore’s Population White Paper, it is interesting to note that along with streaming, TV viewing is expected to remain popular within this cohort.
When it comes to streaming music, we see an inverse relationship between consumption and age. Intent to increase music streaming consumption declines with age, with those aged 18-24 appearing most likely to increase consumption in the next 12 months (43%), while 55+ year olds are least likely to do so (12%).
Consumption of radio and podcasts, comparatively, is at comparable levels.
This propensity to continue streaming both video and audio content is echoed in the subscription habits of young consumers. Analysing the subscription habits of those aged 18-24, two in five (43%) currently subscribe to video on demand and are likely to continue next year. Similarly, more than half (52%) currently pay for music streaming services and are likely to continue next year.
In addition to this, nearly one in ten of these young adults (8% for VOD and 9% for music) currently do not subscribe to video streaming platforms but will consider paying next year, highlighting a clear growth opportunity within this cohort.
Jules Newby, Sector Head of Media at YouGov said: “Our report takes deep dives into the Watch, Listen, Read and Social channels of media consumption. As consumer media consumption patterns continue to evolve and adapt to the pandemic-caused disruption across different regions, our data sheds light on growth opportunities for media planners and brand marketers alike, whilst also revealing which digital trends are likely to stick around in the future, and which global markets and demographics are encouraging this stickiness.
“When it comes to the ‘stickiness’ of consumers’ media consumption behaviour, our data suggests that a high proportion of consumers are unlikely to change their media behaviour dramatically in the next 12 months. Looking at the growth drivers of media consumption in 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 likely to register the biggest growth in consumption in the coming year.”
