Media Trends: Growth and Insights

Streaming has transformed entertainment, altering how people consume video, music, and games. Leading platforms like Netflix, Spotify, and Twitch offer convenience and personalisation, though rising costs have heightened price sensitivity. To succeed, streaming services must innovate with better features, user-friendly interfaces, and tailored content. Adapting to shifting user preferences is crucial for maintaining engagement and shaping global entertainment.

In the UK and US, Netflix, Amazon Prime Video, and Disney+ dominate, with Americans averaging three hours daily on video streaming. Netflix leads with 260.28 million global subscribers, with over 80 million each in the US/Canada and EMEA.

Music streaming has surged, with 90 million US subscribers and 89% of industry revenue now digital. Spotify, with a 30.5% market share, Apple Music, and Amazon Music drive this shift. Americans spend about 20 hours weekly on music streaming, which generates $17.5 billion annually.

The video game industry, valued at $217 billion in 2023, continues to grow, with over 3.26 billion gamers globally. In the US, $55 billion was spent on games in 2023, primarily on free-to-play models. More than a quarter of gamers spend between 1 and 5 hours streaming video games each week.

As streaming costs rise, 45% of users have canceled subscriptions in the past year. This trend highlights a demand for seamless, personalized, and cost-effective entertainment options.

Sequel is here to help clients navigate these challenges by providing insights and solutions that enhance user experience, optimize strategies, and adapt to evolving consumer demands.