Streaming subscriptions are now leading the way in promoting films and series.Continue reading
Changing media consumption habits require continuous adaptation by all market players, especially as young people’s behavior is transforming faster than average, based on the National Media and Infocommunications Authority’s Media Market Report 2023.
This year’s publication contains several novelties, writes Világgazdaság. The latest report reveals that young people’s consumption habits are changing faster than the general trend, with 13-17 and 18-29 year olds spending on average only 133 and 144 minutes a day watching TV, compared to the national average of 289 minutes.
The data shows that the time spent in front of the TV starts to decline sharply at the age of 13, replaced by online content consumption.
Photo via Pixabay
The situation is similar for radio listening, with 15-19 year olds listening to 64% less radio in 2022 than four years ago, while for 20-29 year olds the time spent listening fell by a third over the same period.
The share of print publications has also been steadily declining, with only 44.2% of those aged 15 and over regularly reading a printed newspaper.
By contrast, online content is unrivaled among young people, with members of the 8-15 age group spending an average of 234 minutes a day, or almost four hours, in front of their smartphone screen in 2022, a figure that has increased in line with age.
The time spent online has also grown for the population as a whole, with 58% of internet users in Hungary spending more than three hours a day on average in front of a screen last year.
Streaming services and video-sharing platforms such as Netflix, HBO Max, YouTube, and TikTok are now leading the way as competitors to traditional TV, but listeners are also opting for Spotify, YouTube, and podcasts instead of radio.
Photo via Pexels
No wonder the growth of the advertising market also slowed last year, with a sharp decline in real terms. The online advertising market is dominated by global companies such as Facebook and Google, accounting for almost two thirds of the domestic market, estimated at HUF 163 billion (EUR 431 million).
Just under 4% of 15-75 year olds use all four sources (TV, radio, online, print) for news and information, while 24% use three channels, 44% two, and 23% a single one.
However, 3% of respondents do not use any media type for this purpose.
74% of Internet users over 16 years of age who use social networking sites have encountered harmful content, with the highest proportion having encountered fake news (54%) and scam advertising (46%). This is why the National Media and Infocommunications Authority considers it of particular importance to contribute to the improvement of media awareness and the development of media culture in Hungary.
Via Világgazdaság, Featured image via Pixabay