Despite a weakening economy, household spending on media services is rising. In the third quarter, a new record level of SEK 855 per month was reached, representing a growth of SEK 45 or six percent compared to last year. The analysis covers all types of media purchases, such as subscriptions for newspapers and video services, as well as individual purchases, like cinema tickets.
Mediavision can confirm that growth is primarily driven by increased spend on cinema, even though individual purchases of, for example, video games have also increased. During Q3, on average, 25% of households bought at least one cinema ticket per month, which is a significant increase compared to the same period in 2022. A vital contributing factor is the release of blockbusters Barbie and Oppenheimer, which both attracted a large audience. However, despite the increase, monthly reach for cinema remains significantly lower than before the pandemic.
"Just like during previous economic downturns, we see that paid media services are doing well. When other major expenses are put on hold, media is something many prioritize. This is proof of the strong role that media plays in the lives of Swedes, especially in uncertain times," said Marie Nilsson, CEO of Mediavision.