Global consumer spending on overall media content and technology grew at a 4.4% rate in 2024 to $2.371 trillion, the third consecutive year of decelerating growth after a 4.5% increase in 2023, which followed the strongest growth in consumer media spend in a decade the prior year, according to new research by PQ Media, the leading provider of media econometrics.
STAMFORD, Conn., May 8, 2025 /PRNewswire-PRWeb/ — Global consumer spending on overall media content and technology grew at a 4.4% rate in 2024 to $2.371 trillion, the third consecutive year of decelerating growth after a 4.5% increase in 2023, which followed the strongest growth in consumer media spend in a decade the prior year, according to new research by PQ Media , the leading provider of media econometrics.
“Consumer spending on media is expected to show decelerated growth in the 2025-2029 period, as numerous media and related tech become obsolete, like dial-up internet; feature cell phones; music CDs & CD players; single music downloads & MP3 players, among others.”
Growth slowed by more than expected in 2024, as certain categories underperformed, particularly movie admissions, which rose at mid-single-digit rates in most markets when a double-digit gain had been projected. Despite several blockbusters, fewer movies overall were produced last year, including by the major streaming services, as even the movie hits underperformed expectations. Growth might have been even worse if not for select media platforms that outpaced expectations, most notably consumer books, with a cadre of unexpected adult trade books that became bestsellers, and a spike in Western European spending across multiple media categories, helped by the Summer Olympics in Paris, France, according to the Global Consumer Spending on Media Forecast 2025-2029.
Global consumer spending on overall media content grew 8.1% in 2024 to $1.075 trillion, while total media-related technology spending rose only 1.4% to $1.296 trillion. Consumer spend on digital media content and tech worldwide increased 5.7% in 2024 to $1.783 trillion, while end-user spend on traditional media content and tech inched up 0.6% to $588.56 billion.
The United States remained the largest consumer media and related tech market in the world with total expenditures of $544.18 billion in 2024, while South Africa was the fastest growing of the Top 20 markets, rising 7.2%. Global consumers spent an average of $395.43 on all media content and related tech in 2024, a 3.9% gain over 2023, of which $297.29 was spent on digital media and $98.14 on traditional media, according to the Global Consumer Spending on Media Forecast 2025-2029.
PQ Media’s research, however, indicates that consumer expenditures on media are expected to decelerate during the 2025-2029 period, as numerous media categories become obsolete, such as dial-up internet; feature mobile phones; music CDs and CD players; single music downloads and MP3 players; and video DVDs, DVD players and home video subscriptions. Many digital tech categories will post declining growth rates during the forecast period, including tablets, smartphones, laptops, PCs and home networks & storage. Fourteen of the 16 traditional media categories will post declines as well, with the two exceptions being public radio and public TV license fees. Furthermore, other media categories that once boasted annual double-digit gains will exhibit only single-digit growth rates by the end of the forecast period, such as digital games, apps & microtransactions; e-books & m-books; video-on-demand; wireless data subscriptions; digital audio receivers; entertainment & workflow software; and security software & services.
Similar to growth spike in Western European in 2024 due to the Summer Olympics in Paris, France, the Americas region will post growth spurts during the even years of the forecast. In 2026, the United States, Canada and Mexico will co-host the FIFA World Cup, while in 2028, the United States will host the Summer Olympics. Italy and its neighboring countries will see a minor increase in 2026 when the Winter Olympics are held near Milan.
However, PQ Media is forecasting another deceleration in 2025, as a global recession is possible due to the controversial tariff policies in the United States under President Trump, and the counter tariffs being placed on U.S. exports. As this report went to press, more than half of the economists surveyed for well-respected panels, such as the Wolters Kluwer Blue Chip Economic Indicators, were predicting a global recession, and the International Monetary Fund issued an “alarm” regarding the impact of the tariffs a weakening global economy.
“Consumer confidence has declined in a number of top 20 global markets to the lowest level since the pandemic, resulting in consumers trimming discretionary spending in 2025 and, potentially, beyond depending upon unforeseen world events, economic gyrations and the eventual impact of President Trump’s policies – tariffs in particular – during the next couple years.,” said PQ Media CEO Patrick Quinn. “While consumer spending on media will accelerate in even years, the growth rates will be significantly lower than in previous years when international sporting events and major elections were held. The tariffs are impacting both developed and emerging markets, particularly relating to electronically delivered content and the devices that are used to upload that content.”
Many media categories will be transformed during the forecast period. For example, sales of the Nintendo Switch2 will be monitored closely after it is released during the second half of 2025, as to the health of the console game market. Cracks are already being seen as the Xbox Series consoles significantly underperformed expectations. Additionally, no new internet or mobile game has become overnight hits, like Pokemon Go! and Fortnite were, adversely impacting gaming app & micro trans growth. Meanwhile, the movie industry is underperforming, with studios releasing fewer films than prior to the pandemic, particularly streaming services which are cutting budgets on theatrical films. The recorded music industry has almost completed the shift from CDs to vinyl albums, but audio streaming growth is slowing, as fewer new customers are subscribing – the same trend PQ Media sees happening for video streaming.
While AI is the latest innovation shaking the media economy, it’s not having much of an impact on consumer media spend, other than the category of entertainment & workflow software. AI has not yet materially grown the amount of time people spend with media, but appears to be making some tasks, like search, more efficient.
Other highlights from the new PQ Media Forecast include:
Pure-play mobile media was the largest of the 10 hybrid-media silo spending categories in 2024 at $563.77 billion, while recorded music was the fastest growing, rising 10.9%;Wireless data subscriptions were the largest of the 28 digital media categories in 2024 at $300.31 billion, while digital audio streaming and satellite radio posted the fastest growth, up 17.7%;Basic and premium TV subscriptions was the largest of the 14 traditional media categories in 2024 at $231.03 billion, and physical music units (vinyl albums & CDs) registered the strongest growth, increasing 4.9%;Among the top 20 global markets, Russia ranked first in digital media’s share of overall content and tech spending in 2024 at 84.5%, as Japan ranked first in average consumer expenditures on all media at $1,823.18.
About the Report:
PQ Media’s 12th annual Global Consumer Spending on Media Forecast 2025-2029, the most comprehensive and actionable strategic intelligence on consumer spending on digital and traditional media content and technology, including econometric data and analysis of 2 overall spending sectors (media content and technology); 5 total spending segments (unit purchases, content subscriptions, access, devices, and software); and 28 digital and 14 traditional media content and technology categories. CLICK THE LINK ABOVE TO DOWNLOAD FREE REPORT SAMPLES.
About PQ Media:
PQ Media delivers intelligent data and analysis to the world’s leading media organizations via syndicated market intelligence reports, custom drill-down research, and on-demand strategic consulting. which includes three reports that cover the industry’s KPIs: advertising & marketing spending; consumer media usage; and consumer spending on media. Click the link above to download free report samples and for details regarding our Special Three-Report Bundle License.
Media Contact
Patrick Quinn, PQ Media, 1 2039215249, pquinn@pqmedia.com, https:/www.pqmedia.com
Leo Kivijarv, PQ Media, 1 2032737081, lkivijarv@pqmedia.com, https:/www.pqmedia.com
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SOURCE PQ Media
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