Media Nations UK 2023 Report Summary
The Media Nations UK 2023 report provides an overview of trends within the media sector in the United Kingdom, focusing on areas like TV and video consumption, audience attitudes, and industry developments. Key findings include:
TV & Video Consumption Trends:
- Total Video Viewing: Average daily video viewing time decreased to 4 hours 28 minutes in 2022, marking a 12% reduction compared to 2021, influenced by easing COVID-19 restrictions.
- Broadcast TV Viewing: Despite this, broadcast TV's share of total video viewing remained steady at 60%, indicating ongoing demand despite a broader decline in viewing time.
- Most-Watched Programmes & Events: The number of broadcasts attracting large audiences (over 4 million viewers) dropped significantly by 52% from 2014 to 2022, reflecting a long-term decline in mass audience viewing.
Subscription Video-on-Demand (SVoD):
- Market Dynamics: Growth slowed for SVoD services like Netflix and Disney+, with signs of a decline in 2022, aligning with a broader fall in viewing.
- Household Usage: 66% of UK households used SVoD services in Q1 2023, a slight decrease from 68% in Q1 2022.
Social Video:
- Platform Reach: YouTube and Facebook retained significant shares, reaching 91% of UK internet users aged 15+ in Q1 2023.
- TikTok Usage: While usage remains high among younger audiences, particularly for music and entertainment, the pace of adoption among children has slowed.
Broadcasting & Advertising:
- Industry Revenues: Total commercial TV and online video revenue grew 4.5% to £17.3 billion in 2022, with online video contributing a larger share.
- Broadcasters' Output: Commercial PSBs, digital multichannels, and pay-TV platform operators saw combined revenue decline by 1.8% to £11.1 billion.
- Ad Spending: Overall advertising expenditure increased by 8.8% to £34.8 billion, with online spending driving the majority of growth.
- TV Advertising: Experienced a slight decrease in spend, down 1.4% to £5.4 billion, reflecting economic pressures.
Radio & Audio:
- Growth in Local Advertising & Sponsorships: Boosted commercial radio revenues, with a focus on local advertising and sponsorships.
- Market Developments: Continued growth in local advertising and sponsorships fueled commercial radio revenues, highlighting the resilience of the sector.
Summary:
The Media Nations UK 2023 report highlights the ongoing transformation of the media landscape, characterized by shifts in consumption patterns, technological advancements, and economic influences. Key trends underscore the decline in traditional linear TV viewing, the stabilizing role of broadcast platforms amidst SVoD slowdown, and the dynamic shifts in radio and audio industries, particularly in local advertising. The report emphasizes the evolving nature of media consumption and the adaptation of industry responses to maintain engagement and revenue streams.
