Analyzing Consumer Trends for Online Media Industry for 2020
Divergent Insights’ team of Market Research veterans has worked diligently towards analyzing and understanding the consumer trends for the Online Media Industry in 2020.
Consumers’ tastes and preferences on online media keep on changing. They use the online media for various purposes like learning, entertainment, social sharing, etc. While we talk about Online Media, it is also important to know that it is the only medium that can adapt and reflect to the fastest changing consumer demand on the online media. Technology advancement has helped in disruption in online media industry.
While using the online media for the entertainment purpose, there are a lot of aspects to be considered like content, delivery medium, bandwidth, cost, audience, and reach. Reach of the content is an important factor. Once right content reaches the right audience at all levels, everything becomes relevant.
Change is inevitable and it is harder enough to hold that to any extent; 2020 will further expect drastic disruption in the Online Media Industry. Let’s have a look at the best way to analyze the most important factors of consumer trends that are driving the online media industry.
Impacts of certain things are forever in the consumers’ minds. Yes, that’s true. Imagine a promo of Season 2 of a famous and your favorite TV show or a web series. How would you react? YES! That’s pretty much expected from all the happy consumers. We have found exactly the same in our social media analysis report on the online media. Sometimes a small hint or quiz works really well, so you should create curiosity among your consumers about your TV Shows or web series. During our analysis we have seen that it creates louder noise than the normal ways. You can gauge the real love or sentiments of the consumers about your show on the online media platform.
Content Formats like Web Series and Documentaries are leading on the online media platform. However, other media cannot be ignored as per our study on the consumer trends for Online Media Industry in 2020. Various short stories and short web series were a hit on online media; still people very well appreciated the other formats like documentaries too for the purpose of better understanding of the content with some hidden messages.
Quality and Affordability
On the online media, quality and affordability – both the factors are important. Modern day consumers are more educated and well aware of the content they are served. Today’s consumers wish to have the best quality of content for their entertainment. Affordability is obviously an important factor but the consumer is ready to afford at any level to enhance the experience. As per our various market research studies, our team analyzed that quality matters more than affordability on the online media when it comes to entertainment. The responses in our online survey differ in different countries. Respondents from a few countries give priority to Quality whereas others give priority to affordability. So it is important for any brand to know these facts before launching their content into a new country.
Adoption of digital technologies
Consumers have seen the era from buying the Newspaper to changing the channels as per choice to news app on your mobile; from using CD for entertainment to streaming on smart TV or platforms like Netflix; moving everything from offline to Online to the smartphone. It is already evident that digital transformation has already taken the next level in almost everyone’s life.
The younger generation is looking for consuming the content on the online media. It is important to know that consumer behavior and expectation have driven digitalization of the content in online media industry. It is valuable for accessing the content anytime and anywhere.