Key Highlights
- The global media industry is valued at approximately $2.2 trillion as of 2023
- Digital advertising accounts for over 70% of total media advertising spend worldwide in 2023
- The average daily time spent with media per person is 7 hours and 50 minutes globally
- Mobile devices account for nearly 80% of all internet traffic worldwide
- Over 4.7 billion people globally use social media, representing about 59% of the world’s population in 2023
- YouTube has over 2 billion logged-in monthly users as of 2023
- Streaming services like Netflix and Disney+ now have a combined global subscriber base exceeding 400 million
- The number of podcasts worldwide surpassed 2 million in 2023
- Video content on social media generates 1200% more shares than text and images combined
- 65% of consumers prefer to watch short-form videos under 2 minutes for brand engagement
- The global digital media ad expenditure is expected to reach $427 billion in 2024
- Over 60% of all internet traffic is video-based
- The average CPM (cost per thousand impressions) for digital ads in 2023 is approximately $4.20 globally
The media industry is undergoing a seismic shift in 2023, with a value surpassing $2.2 trillion and digital channels now dominating spending, consumption, and innovative content delivery across the globe.
Consumer Preferences and Behaviors
- Video content on social media generates 1200% more shares than text and images combined
- 65% of consumers prefer to watch short-form videos under 2 minutes for brand engagement
- 52% of shoppers say they discover new brands through social media
- 83% of consumers trust recommendations from social media influencers more than traditional ads
- Over 70% of internet users watch videos to learn about products or services
- 40% of U.S. adults report that they have subscribed to a streaming service in the last year
- 75% of consumers prefer brands that produce authentic and original content on social media
- 65% of media consumers find personalized content more engaging
- 59% of consumers keep their eyes on their mobile devices while watching TV
- 85% of all media consumers prefer original content from brands and publishers
- Over 65% of media consumers access news on their smartphones daily
- 72% of consumers say they prefer watching live sports on streaming platforms rather than traditional TV
- 78% of consumers report that they prefer to access media content via mobile devices
Consumer Preferences and Behaviors Interpretation
Digital Advertising and Marketing Strategies
- Digital advertising accounts for over 70% of total media advertising spend worldwide in 2023
- The average CPM (cost per thousand impressions) for digital ads in 2023 is approximately $4.20 globally
- 89% of marketers say social media marketing increased their exposure
- The advertising revenue from connected TV (CTV) in the US alone is expected to surpass $30 billion in 2024
- The number of active social media advertisers increased by 25% in 2023
- The top three social media platforms by advertising expenditure in 2023 are Facebook, Instagram, and YouTube
- The majority of mobile ads are served in the form of banners, which account for over 60% of mobile ad impressions in 2023
- Over 80% of digital media companies use programmatic ad buying to optimize ad placements
- The average digital ad click-through rate (CTR) in 2023 is estimated at 0.72%
- 90% of media companies anticipate increased revenue growth through digital channels in 2024
- The average cost of producing a professional video for marketing purposes can range from $1,000 to $50,000, depending on the complexity
- Sponsored content and influencer marketing now account for over 50% of social media ad budgets globally
- Over 90% of digital media revenue in emerging markets comes from mobile advertising
- 65% of advertisers plan to increase investment in virtual and augmented reality advertising in 2024
Digital Advertising and Marketing Strategies Interpretation
Global Market Trends and Growth
- The global media industry is valued at approximately $2.2 trillion as of 2023
- Mobile devices account for nearly 80% of all internet traffic worldwide
- The number of podcasts worldwide surpassed 2 million in 2023
- The global digital media ad expenditure is expected to reach $427 billion in 2024
- Immersive AR/VR media market is projected to reach $77 billion by 2028
- The global podcast advertising revenue is projected to reach $2.7 billion in 2024
- The gaming and e-sports segment of media generates over $200 billion annually globally
- The worldwide digital media market is expected to grow at a compound annual growth rate (CAGR) of 11.3% through 2028
- The global digital newspaper industry generates over $40 billion annually
- The influencer marketing industry is projected to be worth $21.1 billion globally by 2023
- The global animation industry is valued at over $270 billion as of 2023
- The revenue from online video advertising is expected to surpass $460 billion globally by 2025
- The career opportunities in digital media platforms increased by 18% in 2023
- The global media industry employment has grown by approximately 12% over the past five years
- The global eSports revenue reached $1.1 billion in 2023, with a projected CAGR of 12% through 2027
- The total advertising expenditure in digital out-of-home media in 2023 surpassed $4 billion globally
- The number of online video creators earning over $100,000 annually increased by 30% in 2023
- The global virtual events industry revenue surpassed $23 billion in 2023, with projections to reach $35 billion by 2026
- The global mobile gaming revenue exceeded $100 billion in 2023, representing roughly 45% of the total gaming market
- The number of digital pay-TV subscriptions worldwide increased by 8% in 2023, reaching over 1.4 billion
Global Market Trends and Growth Interpretation
Media Consumption and Usage
- The average daily time spent with media per person is 7 hours and 50 minutes globally
- Over 4.7 billion people globally use social media, representing about 59% of the world’s population in 2023
- YouTube has over 2 billion logged-in monthly users as of 2023
- Streaming services like Netflix and Disney+ now have a combined global subscriber base exceeding 400 million
- Over 60% of all internet traffic is video-based
- Facebook remains the leading social media platform with over 2.9 billion monthly active users in 2023
- TikTok’s global user base has exceeded 1 billion active users as of 2023
- The average American spends about 3 hours and 30 minutes on digital media daily
- Traditional TV viewership in the U.S. has declined by over 15% since 2020
- 87% of internet users watch online video content regularly
- The average length of a viral social media video is approximately 3 minutes
- TikTok users spend an average of 3.5 hours daily on the app
- Mobile video consumption increased by 45% in 2023
- The average revenue per user (ARPU) for digital media in North America is approximately $45/month
- Live video streaming on social media has grown by over 85% in 2023 compared to the previous year
- News consumption via social media accounts for 62% of online news readership in 2023
- The total number of digital books read worldwide exceeds 2.5 billion annually
- The number of digitally native news outlets has grown by over 150% since 2018
- The percentage of internet users who watch live content has increased by 40% since 2020
- The average revenue from digital subscriptions is about $10 per user per month globally
- The number of active users on Twitter hit an all-time high of 400 million in 2023
- The average time spent listening to digital radio or streaming music is approximately 2 hours and 30 minutes daily
Media Consumption and Usage Interpretation
Technology Adoption and Innovation
- The number of internet-connected TVs worldwide exceeds 1.2 billion as of 2023
- The average number of devices per person connected to the internet worldwide is 4.2
- The percentage of U.S. households that have a smart TV is now over 70%
- The use of AI in media content production is projected to increase by 35% annually through 2028
- The number of licensed digital radio stations worldwide has increased by 40% in the past five years
- Over 75% of media professionals believe that data analytics will be critical to future media success
- The use of 5G technology is expected to enhance media streaming quality and reduce latency by up to 50%
- The use of AI-driven content curation tools in media companies has increased by 28% in 2023
Technology Adoption and Innovation Interpretation
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