Survey: Consumers Expect to Spend More on Streaming
With more time at home, consumers are shelling out for added streaming services, per the latest Morning Consult survey. In a March 13-16 report, 19 percent of respondents now predict they’ll spend more money on movie and TV streaming, while 11 percent said they would up the budget for music streaming.
A week earlier, 10 percent of adults said they would spend more on movie and TV streaming, due to the pandemic.
Nielsen echoed that finding, noting nearly 60 percent of adults are predicted to consume more media since they can’t go out.
Broken down by demographic, Morning Consult found millennials and boomers showed the biggest spike in streaming spend, with millennials in the lead. That’s about 25 percent of millennials and 15 percent of boomers, respectively.
For the younger Gen Z demo, there was also a doubling week-over-week in anticipated spend: 13 percent rising to 24 percent the week of March 16.
To supply extra content, Universal Pictures is making digital rentals of new release movies available for $19.99. The rental will be available for 48-hours once the film begins. Beginning March 20, some titles released in movie theaters will be available for rent, such as “The Hunt,” The Invisible Man,” Emma” and DreamWorks’ “Trolls World Tour.” For sports fans, PBS is streaming Ken Burns’ famed “Baseball” documentary here.
Morning Consult surveyed an estimated 2,200 U.S. adults each week.
Photo credit: Glenn Carstens-Peters on Unsplash