Attention economy After the lockdown boom
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The 20,000 foot view: The pandemic-triggered change in everyday life resulted in a boom in entertainment consumption, which, in turn, saw growth in emerging formats as well as a temporary rebound for traditional formats. As the world starts to ease back into pre-pandemic routines, much of this newly found entertainment time will go – but the declines will not be evenly felt, with the emergence of clear winners and losers in the post-boom attention economy.
Key Insights
- The lockdown boom started to recede in first half of 2020: total entertainment time was hours in down from 2020, but still from 2020. of the time in lockdown was gone by
- The biggest victors were also among the 2021 losers. Audio (radio, podcasts, surged during 2020 (up but half of those gains wiped within six months, with average down to in 2021
- Music streaming a big lockdown winner – by between 2020 and 2021, as this was below the average, it increased its share both audio time and overall time
- Apple Music Amazon Prime Music weekly active (WAUs) saw the sharpest falls music streaming hours in 2021, Deezer and SoundCloud WAUs saw least. Similar patterns were also in audio consumption
- Entertainment consumption was most impacted by the of pandemic restrictions. Being the likely group to return to routines, these consumers saw weekly hours down by and video by
- Combined average hours were in 2021, down 2020, but still up from Social video was the only category to grow in 2021, from 2020 and (with social one of just two categories grew in 2021
- Post-pandemic behaviour triggering a rebalancing of the economy, transforming it from an market concept into something that shape everyday business decisions, resulting both winners and losers in coming year