Hot Category Consumer Technology Focuses on TV and Digital

Before the recent slide in numbers attributed to COVIDrelated panel maintenance problems Nielsen in Q3 2019 showed total time spent each day by American adults being 11 hours and 54 minutes of TV usage some of this being on devices other than the TV set and some of it being game playing through the TV screen That is a hair short of being 50 of all time per day including sleeping An astounding numberEven without looking up Nielsen numbers it would take a very nonobservant person not to notice the love affair between human beings and their consumer tech This is not limited to the young and in fact total usage levels increase rather than decrease with age peaking at 5064 where the Nielsen Q3 2019 number is 13 hours and 10 minutes per dayWhen I was a pup in the business four hours of TV usage per day was what Nielsen was reporting per US adultConsumer tech is much more than TV of course The Smartphone rivals the wallet in what you won39t leave home without It39s the doall gizmo which if implanted rather than carried would make us cyborgs maybe coming soon Even implanted it could scarcely be depended upon more than it already isThen of course there are music systems wearable devices videogames smart cars and smart home devices digital assistants including Alexa et al new ARVR platforms just beginning to flower drones biometrics that measure our brain and give us advice just over the horizonIt39s a good bet that consumer technology has a great futureAs recently as 2016 it didn39t look that way 2016 consumer tech sales in the US were up only 1 over 2015Then in 2017 the vertical entered a sustained growth period Sales year over year YOY were up 119 in 2017 101 in 2018 61 in 2019 and despite COVID up 63 in 2020 Whether it would have been higher or lower without COVID we39ll never know although if double digit growth resumes when the pandemic ends it will suggest that COVID did slow consumer tech downConsumer tech companies appear to have woken up to their good fortune pretty quickly as they increased their US ad spend 632 in 2018 over 2017 They were on the ball realized that they were in a new expansion phase and were smart enough to realize that increased advertising would help them capitalize on itIn 2017 these companies aggregately put most of their money in digital 566 and TV 340 However in 2018 the year they upped their ad spending enormously the percentages shifted in favor of TV which grew at 1154 to make the year 2018 ad spend almost equally balanced between digital 463 and TV 449 where it has been ever since In some quarters like Q1 2020 TV was slightly higher 499 than digital 442Over most of this period since the 2017 growth cycle began these tech companies used a decent amount of out of home media peaking in 2019 at 73 of ad spend In Q1 2021 outdoor was still at a respectable 44Radio magazines and newspapers were never much more than about 1 of the budget each however as print continues to shrink newspapers and magazines each 02 in Q1 2021 radio has grown 186 Q1 2021 vs Q1 2020 to account for a 11 share of ad spendThe consumer tech category will continue to grow leading the market for all goods and services probably for the rest of our lifetimes and maybe beyond They have settled upon a media strategy about equally balanced between TV and digital but continuing to test the other media at very low levels Radio tests appear to have been recently successful judging from the current jump in spending thereIf you are a media company looking to increase your share of consumer tech ad spend we recommend you gather ROI evidence by means of case studies with these brands The table below shows that they have a willingness to make changes in their media probably a lot of it based on evidenceClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Hot Category Consumer Technology Focuses on TV and Digital

Author

Publish date

Channel

Archived in

Bill Harvey

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

More Videos:

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Hot Category Consumer Technology Focuses on TV and Digital

Enjoying This Commentary? There's More to Love

Bill Harvey

TAGS:

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

Cookies