2025数字媒体趋势：社交媒体正成为媒体和娱乐领域的主导力量

While studios and streaming providers are busycompeting with each other, tougher competition iscoming from social video platforms that are hyperscaleand hyper-capitalized ARTICLE14-MINREAD25MARCH2025Deloitte Center forTechnology, Media &Telecommunications••• People still want the TV and movie experience offered by traditional studios, butsocial platforms are becoming competitive for their entertainment time—and evenmore competitive for the business models that studios have relied on. Social videoplatforms offer a seemingly endless variety of free content, algorithmicallyoptimized for engagement and advertising. They wield advanced ad tech and AI tomatch advertisers with global audiences, now drawing over half of US ad spending.As the largest among them move into the living room, will they be heldto higher standards of quality?1 At the same time, the streaming on-demand video (SVOD) revolution hasfragmented pay TV audiences, imposed higher costs on studios now operatingdirect-to-consumer services, and delivered thinner margins for their efforts. It canbe a tougher business, yet the premium video experience offered by streamers oftensets the bar for quality storytelling, acting, and world-building. How can studioscontrol costs, attract advertisers, and compete for attention? Are there strongerpoints of collaboration that can benefit both streamers looking to reach globalaudiences and social platforms that lack high-quality franchises?This year’s Digital Media Trends lends data to the argument that videoentertainment has been disrupted by social platforms, creators, user-generatedcontent (UGC), and advanced modeling for content recommendations andadvertising. Such platforms may be establishing the new center of gravity for mediaand entertainment, drawing more of the time people spend on entertainment andthe money that brands spend to reach them. Our survey of US consumers reveals that media and entertainment companies—including advertisers—are competing for an average of six hours of daily mediaand entertainment time per person (figure 1). And this number doesn’t seem to begrowing.Not only is it unlikely that any one form of media will command all sixhours, but each user likely has a different mix of SVOD, UGC, social, gaming,music, podcasts, and potentially other forms of digital media that make up theseentertainment hours.2 Looking across generations, preferences among respondents appear to be shiftingaway from pay TV and toward streaming video services, social video platforms,and gaming. Although TV once dominated video entertainment time, we now seeUS audiences—and especially younger generations—engaging more evenly withSVOD companies, social platforms, gaming, and even audio entertainment likemusic and podcasts. And they are using different devices to consume media (figure2). This can further fragment the landscape of entertainment and make it morechallenging for services and brands to reach audiences, and for providers to gathermore people onto their services. With growing production and marketing costs,traditional studios and streamers are responding with more bundles andaggregations seeking to bring together disparate audiences, offer them lower pricesfor multiple services, and sell access to advertisers.3 Media and entertainment companies may also be competing for a fixed amount ofentertainment spending. We do not see those surveyed spending more money onsubscriptions, and many report fatigue with having to manage multiplesubscriptions to get the content they want, and frustrations with rising subscriptionprices. The median household annual income in the United States is aboutUS$80,000 and is only now rebounding from COVID-19 pandemic declines thatbegan in 2020.At the same time, consumer prices have climbed for most goods.In Deloitte’s January 2025 ConsumerSignals survey, about half of US householdssay they have no money left over at the end of the month after meeting theirexpenses.This can shift the household calculus to prioritize spending on essentialsover discretionary entertainment. Twenty years ago, many households may have456 considered pay TV an essential cost. Since then, the number of digitalentertainment options has grown significantly, but the amount of time and moneyavailable for it have not. This has enabled greater consumer choice, morecompetition, and more fragmentation. Pay TV: Making money but losing audiences Cable and satellite televisionremain significant players in media andentertainment, though subscriptions continue to decline. We found that 49% ofconsumers surveyed currently have a cable or satellite TV subscription, down from63% three years ago.The primary reasons subscribers report paying for theseservices are to watch live news (43%) and sports (41%). However, the marketcontinues to fall, likely because SVOD services now offer more live sports options,and social media provides free sports clips and news recaps.78 Older generations are more likely to maintain cab