HOW HAS THE MEDIA INDUSTRY REVIVED FROM THE PANDEMIC EFFECT?

Nielsen hosted its “State of Global Media Virtual Event: Europe & Americas” webinar, during which it covered various noted trends and behaviors related to media consumption, such as the increasing dependency on digital platforms, causing innovative developments in related technology and changes in content delivery. Featuring a range of experts in the industry from notable companies such as Google, Unilever, OzTAM Australia, and MMS Sweden, the event highlights points to effectively guiding advertisers and buyers to the proper investment opportunities.

The research company found total ad spending across 15 major markets across the globe to have declined by 24% during Q2, soon after the pandemic was declared but showing signs of revitalization between the last quarter of 2020 and the beginning of 2021, rising to over 5% of year-over-year increases. The growth is caused by content and production surges, which have driven new consumer electronic devices and outlets to deliver content more effectively.

Media platforms have rebounded from the pandemic largely through a digital transition as demand for digital media and the growth of its outlets continue to rise. Over time, Growth accelerations have mainly been noted for streamers, social media platforms, and conglomerate Amazon. Over time, the ratio of major digital platforms has risen and surpassed the rest of the web with a 36% dominance in 2020, while streaming continues to surge, taking up the largest portion of impression shares online at 100%.

The top five streaming services and media platforms in the US are Netflix, YouTube, Hulu, Amazon Prime, and Disney+. Netflix continues to dominate the streaming realm, made evident in a comparison between the streamer and its competitors, indicating that while 50% of Netflix users also use Amazon, over 80% of Prime Video subscribers are also loyal to Netflix. Comparison with other major streaming players produces the same results.

Linear TV hasn’t been as lucky since pandemic-driven spikes began to submerge, with cord-cutting figures on the rise leading to a 2% overall decrease for the sector. Still, new interactive features such as addressable linear TV allow it to maintain afloat and a series of other contributing growth factors such as a loyal audience, mainly consisting of older individuals and advertising partnerships.
Despite linear TV declines, advertisers continue seeking related monetary opportunities while simultaneously increasing their presence in the digital world, proven by the rise of ad-supported streaming subscriptions.

With rising trends related to social media, broadcast VOD, subscription and ad-supported streaming, and internet-enabled devices, the transition to a digitally-dependent industry, is projected to continue inevitably through the next decade and is expected to be considered “a new digital normal.” “It’s all about the audiences,” Nielsen's Senior Vice President and Eastern European Leader Katya Edelshtein said. “Being at the heart of media fragmentation and evolution of media space, it is necessary to be specific and understand who your audiences are, and more importantly, how to stay relevant for them.”

By Karla Florez