How Affluents Navigate the Ever-Changing Media Landscape

The last couple of years have seen a quantum evolution in the relationship between media content providers and their consumers. The pandemic struck like a lightning bolt, with more time spent at home leading to changes in how and how much we chose to access video and audio content. Media conglomerates merged into even larger content incubators. Streaming video services were born, combined, and remade. And podcasting burrowed even deeper into the cultural zeitgeist.

Over the last few months, Americans’ stance toward the pandemic has evolved to a state of wary coexistence. People are going out again, and spending more on themselves in the process. At the same time, they are taking the opportunity to reassess their commitment to the multiple streaming video services they pay for.

Listen to our on demand webinar to hear new findings from our latest Ipsos Affluent Barometer research on the state of the evolving relationship Affluents have with video and audio streaming media. Topics we cover include:

• Current attitudinal mindset of today’s Affluent audiences toward streaming and linear video
• Receptivity of Affluents to advertising in streaming content and profiles of those most receptive
• Trends for the impact of “Work from Home” on streaming content
• The level of overlap between consumption of streaming video and other media
• Attitudes toward podcasts and profiles of podcast consumers

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Today’s AI-generated audio transcript is offered below. Apologies in advance for inconsistencies that have been included.

0:04

Thank you for joining us for today's Ipsos webinar, Exploring Affluents Media Consumption in 2022, both Personal and For Business. Today's presentation is Being given by Tony Incalcatera, and you can read more about him on the slide in front of you.

0:22

Throughout today's session, you will remain in listen only mode, however, throughout the webinar, please submit your questions online using the Q and A feature.

0:31

Time permitting. We'll answer questions at the end of today's session, however, if time, when short, then, your question will be answered by e-mail.

0:41

I also encourage you to check out the handouts we've uploaded into the control panel.

0:46

Today's webinar is also being recorded and will be directly e-mailed to you.

0:53

So, now with Let me please introduce Tony Incalcatara, Senior Vice President, with Ipsos’ audience measurement team. Tony, you have the floor.

1:05

Thank you, Elen, and welcome everybody. I'm so glad you could join us today to talk about a subject that's just incredibly important, both to us and to affluence in general.

1:17

I am going to turn off my video so that we can focus on the presentation, and let's get started. So, you know, today, we're going to cover a lot of information like we normally do.

1:31

The insights that we're going to present are really derived from two sources are our ongoing Ipsos Affluence study in the USA.

1:39

Along with these in-depth studies we conduct virtually every quarter as part of our barometer studies are US. Affluent steadies part of Ipsos 49 country global effort.

1:53

That provides clients with what we like to refer to as a total understanding of sewers.

2:00

Who they are, what they buy, how, you know what they use, how they think and ultimately for our clients or how did that happen? They effectively reach them and speak to them in the most basic persuasive way.

2:15

As we've seen many times a year, the reason why we stay on top of the app market is really tied to the fact that as a group, they are perhaps the single most important market.

2:28

Well, you know, they only account for a quarter of US households, but affluence control nearly three quarters of total US net worth.

2:36

And they consistently outspend non African households by greater than 2.5 to 1.

2:42

So, you know, as a block, they're critically important to every marketer especially when general consumer spending starts to pullback and we're going to talk more about that.

2:54

No.

2:55

As always, we plan to cover a lot of stuff, so we're going to start looking by looking at how athletes are feeling right now, since so much of what they think and do is really tied to their general outlook.

3:11

Knowing their current state of mind, we can look at how Affluence really turned to media for everything from just stay abreast of world developments to finding a bit of sanctuary. It sort of was crazy.

3:27

Not surprisingly, there's going to be significant generation skews when it comes to media behavior, so we'll spend some time looking at that.

3:36

We'll look at where the differences are, where the assembly similarities are between the ages, will then turn to the important topic of when Apple, which are most accessible through their media choices. Before we focus some time on the importance of streaming video on demand.

3:55

You're from there, we're going to spend some time talking about Affluents relationship.

4:03

We're streaming and focusing on binge watching. I know we're all a little bit of guilty. Yeah.

4:10

So, I will spend some time with that, and then we're going to shift focus a little bit to explore podcasting important data.

4:17

Since so many media brands have extended their content dissemination through the use of exceptional plot.

4:25

Finally, we will try to tie this all up, wonderful bau and summarize it into a few salient points for you to take back.

4:35

So let's get started.

4:37

First, let's spend a little bit of time talking about the emotional state and the psyche, the the affluent market.

4:46

We, you know, we often talk about financial insulation that affluence possess, it enables them to stave off any negative impacts from the US economy or little ways that we find ourselves.

5:03

But these are particularly difficult times and while most athletes are not facing financial hardship, general fears may be settling in, and that could cause some changes too.

5:16

Now remember, changes in affluent spending epoch huge, huge implications for the economy as a whole, those top earning households, outspend, and therefore, they're going back virtually every market sector from food and groceries to beverage alcohol.

5:37

That's an area where affluent households account for almost half of the total spend in the US. So critically important.

5:45

Now, for most of the past 15 years, we've been measuring through our barometers. economic optimism.

5:53

Affluence has been largely optimistic about the economy moving forward during that time.

5:59

During the Great recession, we did see brief periods where all of repairs overtook balls in terms of, you know, our economic outlook.

6:09

But once we got past the great recession, then optimism really triumphed over pessimism until covert here in 20 20.

6:18

Now we did see, thankfully, as as Affluence, adjusted, to what was euphemistically called the new normal after is returned.

6:28

Unfortunately, we now face the scourge of historically high inflation that hit us earlier this year.

6:37

And in our most recent measure, the pessimists have come much higher and they now outweigh optimus 43% to 47 to 37.

6:51

However, it should be noted that most of the optimists have most of pessimism is centered around the mass at the top.

7:00

As the higher your income, it's, the more likely you are to see a positive outlook pretty.

7:08

And, in fact, among those households with their household net worth, $5 million or more, we see nearly two thirds of them are bullish on the US.

7:19

Now, you know, all of that said, we see, you know, good optimism amongst the highest earners and highest net assets. But, there are still concerns about inflation that are affecting all income.

7:33

It is the number one concern among all groups of applicants.

7:37

With the exception of black and African, african americans were the issue of racial inequality, is three times higher than the concern about, and that's a trend that we've seen throughout our measurement.

7:53

It's quite concerning, obviously.

7:57

Now, getting back to inflation regardless of income.

8:00

Majority of Americans, both affluent, and expect their purchasing habits to change over the next.

8:08

A little bit more than half of them are telling us that we're likely to buy fewer products overall while for intent and expect to wait a little bit longer seek out sales when they decide to make purchases.

8:23

But what is important that we want people to remember is that affluent households are going to have the financial wherewithal in order to be able to afford these settings. So despite higher prices, they're less likely to be squeezed out of it.

8:44

So companies really do need to focus on these high income households in order to make up the shortfall, so that may rakoff as a result, lower income households play back.

8:58

Now, the reason why we say that we think that you should focus on them is relatively simple, that despite the concerns about inflation, close to three quarters of affluent households are telling us that their family finances are the same or better than they were compared to a year ago.

9:18

This they also happen to be pretty confident about the future, would even more of them saying that they hold the ground or be better off six months?

9:28

So despite their concerns about the economy, despite are concerned about inflation, they do feel fairly new, personally, to the problems that are facing the nation as a whole.

9:42

It comes as no surprise, then as you, if you look deeper, that the higher your income, the greater your competence is about your family finances.

9:51

So those living in households that are $250,000 or more, are 6% points. More likely to say their finances are better compared to last year than even affluence in 125 to 249,000 range.

10:07

They These high in this highest income earners these 250,000 plus or 12% points higher than non affluence and try this out feeling that their Finances are better today than they worry.

10:24

Now, with more at stake, it's no wonder than that 61% of Apple was you feel or keep up with the Financial news and have this this Feeling about constant need to know.

10:41

They want the immediacy of leaders to keep them in order.

10:45

And it's one of the reasons, it's not the only one that keeps affluents change to the brands, and I say change, but, But I mean it in a good way.

10:57

That's why I call it immediate junkies.

11:00

They're craving connection to Intelligence to knowledge about themselves and the world around them.

11:08

In many ways, affluence have a FOMO, fear of missing out really, that can only be assuaged by an almost constant connection to media.

11:20

I might be exaggerating a bit but you'll see that connection is quite deep and very, in an average week, Apple is spending more than 60 hours per week with media.

11:33

That's roughly half of the waking hours.

11:37

In a typical week, you're following a trend that we've seen for some time.

11:42

Men are more likely to have higher levels of media, especially watching live sports compared to women.

11:50

Though it's likely that the outcome women unfairly taking on more housel responsibility, particularly as there's more working from home and more issues of schooling, it's likely that that is why they're needed, the their media consumption is lower than.

12:13

So frankly, here's two women: Get a chance to relax and enjoy some time away from the pressures of everyday life.

12:22

Now, you may ask, why on earth could consume good Apple consumers?

12:30

Spend this much time with media.

12:32

Now, it's partly because, or what I call, media, which is that they're consuming media across all sorts of different platforms, in a typical week, in fact, an average of 8.5 different platforms.

12:48

Television, video is the most popular connection with media, whether it's live or order or stream.

12:56

Social media is virtually tied to the percentage of that engaged in that platform.

13:04

And despite some people considering them, old school publications, and an FM radio, still engage a huge portion of that woods, with both of those bringing their own unique ability to connect and engage.

13:18

In fact, audio as a whole, and we're going to look at this in detail as a whole, despite what the bundles saying years ago, video did not killed the radio star. There's a tremendous, tremendous impact of audio on younger generations.

13:38

Now, we've been tracking media consumption for many years, but over the last four years, we've tracked Comedienne six or more to see how it's changing.

13:48

We all know at nauseum about how the pandemic up ended our lives, and some of those changes continue to impact.

13:56

But while the affluent to return to the office, or at least partially return the trend towards increased work from home opportunity's, fewer hours commuting has led to more time for me.

14:10

Yes, some of that time is in the background.

14:14

Some of it is not bullet hinch in media consumption, But let's look at some of the trends over the last four years.

14:22

So live TV, which has always had high penetration among, remains cubic.

14:28

You know, although it's slightly lower than the peak we saw in the worst days of the pandemic, on demand TV has continued to gain acceptance.

14:39

While DVR usage hasn't declined over the last four years.

14:44

At the same time, streaming is leapfrogged over live TV and watching online videos is gain more than 20%.

14:54

So big changes in the video side, no, as commuting to the office has it's returned or begun to return.

15:04

We're seeing AM, FM radio levels returning back to pre pandemic levels as our satellite radio levels.

15:13

And, you know, ultimately, thanks to the younger generations, streaming radio continues to expand and downloaded music.

15:23

Also, return to pre pandemic levels is things like returning to Jim's, workout, routines, all of those things.

15:34

Now, the other side of it is that the greatest expansion, it shouldn't really occur in the podcast realm, and we're going to go into that in more detail in a little bit.

15:44

But it's particularly true because the number of offerings has expanded greatly and afterwards her arm.

15:52

Certainly finding this healing way to spend.

15:58

Now, as I mentioned earlier, reading publications, which we only started measuring during the pandemic and janell.

16:07

It's enjoying an expansion among affluence and I think that's, in part, to their increasing digital offerings as well as the other things that they're doing in terms of content dissemination.

16:21

Finally, social media which we started measuring last year is really an almost constant presence in our lives.

16:31

Now, we saw just, you know, how many applicants were enjoying these media platforms in a week.

16:38

But what's amazing is the total number of hours continues to increase.

16:44

I mentioned earlier that that app won't spend a total of 60.5 hours with 12 different media types.

16:52

Now for the last four years we tracked 10 of those consistently from just before Kobe tejas recently and each year, we've seen an overall increase in media apps among these 10.

17:08

We did see a sharp increase in overall time this year compared to last.

17:13

So we wanted to look at the changes and understand just swaps.

17:18

Now, during the worst of co bid in Q 3, 2020, live TV Our's rose to an average of nine point four hours.

17:28

Particularly, as we saw in some of our other data, as people turn to, to news networks, turn to publications, because they're researching news, an understanding about the bidens, It's starting to come back down to pre coding levels, Which makes perfect sense.

17:47

If we return to our normal routines on demand TV exposures Continue to build, though, And it's almost doubled since the last 40 years.

17:58

And I think that that is an outgrowth you are or should be getting used to the streaming capabilities.

18:10

And the fact that we can now see the things that we want to see on our schedule as opposed to, on a pre-determined schedule.

18:20

Streaming of course is expanded and frankly, it's closing in on live TV hours. Someone, we will talk about that in detail shortly.

18:31

Now, while we didn't start measuring time spent publications until the height of Kobe, we are still seeing a sharp increase in the number. The average number of hours in a week.

18:45

Then you know, honestly what else is there to say about social media? It's a permanent fixture in our lives.

18:52

And it continues to grow particularly as as younger people become more affluent, we saw earlier that affluent men were using media more than affluent across virtually every media.

19:11

What we wanted to look at was, you know, the percentage of women using these services, and how they differ in the fact is that women are using streaming services, an online video, and close to their mouth, and it's really only am FM, radio, and social media that are showing higher levels for it.

19:33

But as I mentioned earlier, we believe that a large part of that is due to the, you know, the increased burden on women or other household responsibilities that are taking away their time or their ability to spend time with media.

19:53

That we continue to report on that increasing diversity of younger affluence compared to older affluence and the differences in their attitudes and behaviors is really quite yes.

20:07

Hunger for media itself extends across all generations.

20:13

But the format and the format preferences are quite different.

20:19

When we look at this, when I first looked at this data, I thought, Oh my God, how is this possible there?

20:26

These younger affluents are consuming twice. What older generations do?

20:31

Bates?

20:33

And well, unfortunately, we didn't gather information on simultaneous usage because it's quite difficult to ask people Just exactly what What is overlaying what during there.

20:47

During their day, We do know that based on how much they're consuming and what hours they are consuming it. And that is, increased hours for Gen Z and millennials have more to do with this overlapping media exposure.

21:03

And then it dies simply that they are, yeah, spending inordinately war of the week with media.

21:14

We divided the media time to four buckets for the purposes of this exercise, between video, audio, reading, and social media.

21:25

And what we can see here is that the older generations are devoting the majority of their media time on video.

21:34

While the success of each successively younger generation is increase it or the has an increased portion that's devoted to audio and social media.

21:46

And this is, this says a lot about the background side of things.

21:51

And these are things that are happening while people are living their lives, as opposed to being focused on a television set, or a magazine.

22:07

Now, as we look at it in more details, you know, you can see stark differences.

22:11

So we can see that while live TV is truly important to reach older affluents, like boomers and seniors, it's streaming video.

22:20

And watching online videos are going to be critically important to Gen Zs and millennials. And certainly less important to those boomers and seniors.

22:32

Now, with all of this, we look at huge amount of time watching videos.

22:38

The next question usually as well, you know, why on Earth are they watching?

22:43

Live sports is the highest rated genre for affluent men.

22:49

And even though it's less important to women, it still falls within the top 10 choices.

22:55

We looked at 37 different types of programming.

23:01

And these are the top 10 choices for men, women, younger generations, middle generations, and the older generations, movies you, as you'll see, are either 1, two, or three for all of the generations, so they're critically important.

23:21

And we'll talk a little bit more about that when we get to, to streaming.

23:27

So, with so many offerings and, you know, so many different types of content that people love to consume, we wanted to know, we asked respondents, you know, just exactly how do you find new shows to watch?

23:42

So one in three, about 35% told us that they get interested in a new show, because someone they knew was talking about it, Which really just comes back to this sense that word of mouth is still incredibly important in driving choice.

23:59

We already see the impact of streaming services, so it's not shocking to see that all this one, or say they get interested based on a recommendation from the screen surface.

24:12

So the of that push to new series, or to give similar types of content from what they have watched previously, is one of those big drivers to offset, or to driving people.

24:30

to learn.

24:32

Rounding out the top five ways EWG, TV ads are critically important.

24:37

Social networking sites where people are sharing information about, it's new series content.

24:45

Right.

24:46

I found it quite interesting that that running into shows by Chance on TV was among the top about 14% affluence are telling us that that's, you know, it's just sampling that's how they find these these new shows.

25:05

So you know, it's time to watch TV.

25:09

So, how do affluent society? While, you know, mortar out, then, pick up a series, pick up in the middle of the series, Statement, Blockchain?

25:21

One in five, say, they use the guide and homepage to see what's on it, might be interesting to them.

25:29

And then, an equal number, our chat, or what I call Channel Loyalists.

25:34

You know, they simply go to a channel there, and they start watching Watson.

25:40

You given all of those viewing options, one's own time, it's not surprising that we see that only 6% of them feel to have Wakeman trying to watch a show at the time it's over The generational differences are pretty stark.

26:00

You know, particularly with four in ten Gen Z, saying, when they sit down to watch TV, they go back to the series statement, Laci, really does make complete sense. If you think about it.

26:14

Gen Zs came of age with streaming and PNG already established.

26:20

So they're used to consuming TV content one show at a time when it's convenient for them.

26:28

For older generations, they learned here or learned to watch TV with different shows scheduled on different days a week.

26:38

So for them, appointment TV was much more normal, then dinging and going back to a series when they sat down to watch.

26:50

And just to say, there are many types of families.

26:55

There are many ways in which family media time.

27:00

About half of Apple is tell us that media, family media, too.

27:05

It's truly family time with every one of the same room consuming the same media.

27:11

However, another 21% say they might all be in the same room.

27:16

But they're consuming different media.

27:18

So, someone watching TV, some reading seminar, playing games, but, you know, it's still considered family media time, despite the fact that they're focused in Europe, since about one in four, tell us that they're in different rooms doing their own thing, while a relatively small minority say.

27:39

They're consuming the same media, but they're consuming it in different.

27:44

So, whether that is they are watching, they're all watching TV, but they're just watching your programs, or they're all reading, or whatever it happens to be, but they're not doing technically Aza.

27:59

Yeah, As I mentioned earlier, audio has just seen us just tremendous growth or younger ones, and it has a significant presence in there.

28:11

Yup, particularly streaming radio, downloaded music, and podcasts.

28:18

You know, the consistency that we see in a unmapped bam and satellite radio is really likely due to the fact that a large part of it is tied to community.

28:28

And it's commuting returns.

28:30

This is going to guy you keep all of the generations, essentially can.

28:38

Similarly, you downloaded music and podcasts or background listening while people are doing other things. Now, that is likely to explain the differences between generations.

28:53

Older generations tend to focus more on the very specific thing, whereas the younger generations tend to have a lot of things happening that's multitasking at once.

29:07

So if you think about, many of our work environments, you know, we're used to seeing younger people with headphones listening to music as they work, and their ability to do both at the same time is something that is not necessarily there in the older generations.

29:27

Now I do want to point out that, you know, on the publishing side, publications are most favored by seniors.

29:38

And this is, you know, this is something that Power Hirsh know in general.

29:42

They know that they need to continue their efforts to extend their brand to these newer content formats, especially audio, since we saw how important it is, and potentially immersive technology, that's one of the ways that they're going to be able to increase their appeal to younger generations.

30:04

That ended up itself is not going to be a problem for social media.

30:08

We, we know that there will be generational challenges to this specific platforms, but overall social media is incredibly common for you.

30:22

It's really everyone is doing it on the younger side, less so on the senior's side.

30:28

But as time moves on, as Gen Z's and millennials become the bulk of the affluent population we want we're obviously going to see.

30:38

some changes in the social media format are the ones.

30:43

It would be if you think about what what Facebook is doing in terms It's shift to the metaverse We're likely going to be seeing the impact of that over the next several years.

30:59

So, you know, we now know how many hours you know, which hormats they're using.

31:07

You know, with all of that, you really have to wonder, just when our affluence finding the time, when are they engaging.

31:16

So let's see, it's a search mirrors spending more than eight hours a day with media brands.

31:23

It's really no surprise that they're well connected through out their waking hours.

31:29

If you look at this, most of the day, more than 50% of affluence are connected to media in some way in some fashion, and frankly, that isn't much different on the weekends.

31:46

It's especially true in Prime time when virtually all affluence are exposed to one for media.

31:55

On the weekends, it might be that there's they're sleeping a little bit later.

31:59

During most of the day, there really aren't any fear.

32:03

You will affluence to me across the media landscape.

32:08

Live TV and streaming services are most dominant in the evening, But even so there are many things that are happening during that timeframe.

32:18

It's kind of affluence, getting ready to listen and watch other forms of media at the same time.

32:25

Now, one of the interesting findings is how consistently Apple is you're using social media across the day.

32:34

So we look at you from 9 0 AM to two PM virtually more affluent to engage with social media than any other means.

32:44

During dinner time between 5 and 7, they hold their own against live TV.

32:50

You know, during prime time, they they lose their lead, but they still maintain a very strong sense.

32:57

But it's nothing compared to two, what is happening with TB and streaming services those hours.

33:05

There's little drop off in how Apprehends consume media during the weekend.

33:11

Aye.

33:12

Again, it looks like that Mike sleeping a little bit later, But, you know, when you look at this, again, earn weekend, social media is the dominant player by far, with commuting out of the way for night, you know, from 9 to 5 social media, Excel.

33:32

So, as I mentioned earlier, we don't have information on concurrent usage.

33:39

For example, we don't know whether people are reading while they're watching TV or posting social that you're on social media, listening to a confidence.

33:50

We can tell that during specific time periods, applicants are engaging with multiple forms.

33:57

It peaks at 3.3 different forms between 7 and 10 PM making primetime, interestingly, perhaps, the most competitive time to gain this, you know, sole attention.

34:14

So, while it is an opportunity, where there are so many people involved in, also may be the most difficult time to get someone's sure on pure, focused attention, just because there are so many things happening at sea.

34:32

Now, overall, the, you know, this competition for attention today is, you know, to, most of the day for the youngest apple.

34:43

They do have this, you know, a lot of things happening in the background.

34:48

We think that they are better equipped to be dealing with this multitasking.

34:53

They fall slightly behind Millennials, in the overnighter wee hours of the morning, but the fact is that if this is something that will continue, as they grow older, it will become, and even more complicated media landscape than it currently is in it, OK.

35:17

So, as I was preparing for this presentation, I was drawn to this, this image from the early eighties.

35:24

Those of you who are old enough will remember what, to me, was a very powerful advertisement, except, of course, in the end, I'm completely MIS identified the act.

35:37

This was an ad for Maxell tapes, not Member X And, you know, in this, the young man is sort of blown away by the sheer force of music on this new set, OK?

35:51

So fast-forward to today, you know, we really do see a similar disruption happening with video content and distribution.

36:02

You know, a few years ago, we discovered in our ongoing survey that if Netflix were a TV network, it would be number one among the apples.

36:13

Now that trend has continued in our spring 20, 22 results, which cover the full year of 2020 and 21, Excuse me.

36:25

They were actually 11% points above the top broadcast networks, NBC, and ABC when it came to the number of affluence that watched in the past week.

36:40

Frankly, as streaming has grown in popularity, we do see things like Amazon Prime Video in YouTube have leapfrog, many of the established networks.

36:52

So they now claim the sixth and seventh top slots in twos, where Affluents are watching over the course of the week.

37:04

We'll be releasing our fall data a week from Thursday on September 29th, and it will be interesting to see if these trends continue or if the stream services are actually moving further up chain.

37:22

So according to the parameter that we just conducted, 90% of affluence use a streaming videos or six subscribe access and for almost every service that we measure, Apple, which are far more likely to use those services.

37:40

Then murnau the exception is the lower priced Hulu with limited shells which has a slight edge among known households.

37:51

That has tremendous impact as we start to see screening services considering lowering the cost by adding commercial messages during within their services.

38:06

So we will be interesting to see what happens for Netflix, whether this differential disappears between affluent and non apple.

38:14

And once there should operate the lowest cost, the average affluent household spends 1.6 times, when non apple is currently spend on video streaming services. So there's their spending just, they're spending $46, and 55% per month, on average, on video streaming services.

38:37

That number was they're likely to increase, but we are also seeing at the same time that a number of people are looking at canceling services over the course of the next year.

38:55

What does, what's, behind all of this, And, you know, what's driving that, willingness to spend so much on streaming?

39:03

Well, it's really their desired pay content that they value, and the fact that they're searching for new shows to watch, serve to them, streaming services, produce better quality shows and regular, and a majority of our who say that they subscribe to streaming services specifically for the original content.

39:29

So as we look, you know, we look at this and we look at these comparisons, we see that in every instance Here, that affluent households wouldn't it tells, are much more in touch with the additional benefits of streaming video.

39:50

Now, over the last few years, it's also been a growing field.

39:57

We've seen virtually everybody get, yeah.

40:00

involved in the stream business, including many of the broadcast networks that have created their own streaming.

40:09

Peacock from NBC, Perelman boss from CBS in the affluent service, where we look at this data, you know, while we've seen decreases, and we showed you how well Netflix is doing against some of those companies, We've seen the weekly viewership of the broadcast networks has been decreasing.

40:31

However, we've seen somewhat similar, or somewhat equivalent increases, or those broadcast networks, streaming services, so they're keeping the network audiences somewhat, Oh, they're just shifting the paradigm, if you will, so that it is A An app will, or you're on my time, exposure to that content.

41:00

Despite all, you know, all of this competition, and I think we're now in the afternoon survey, measuring about 43 different streaming services.

41:09

And Netflix is still the dominant SVOD, and you're among affluence, in terms of viewership, and in terms of loyalty.

41:19

So, when we asked them, if they could only subscribe to 3 of 12 surfaces, Let's set up the top services.

41:26

Netflix was the first one selected by 44% of respondents.

41:32

Then, that was almost three times the next closest competitor.

41:37

In terms of, you know, that total top three.

41:41

Netflix was selected by almost three quarters of respondents.

41:46

While Amazon Prime was the choice for roughly half HBO max and Disney Plus or the next times, it will be interesting to see what happens as HBO max and discover plus merge over share their content over the next couple.

42:08

Next couple of months is as that Pinterest execute base.

42:12

So, you know, since the competition for streaming dollars is really fears, we wanted to look at the importance of specific features.

42:22

When it came to the decision on the part of Apple is to sign up for a new subscription service.

42:29

So in this instance, you know, as we asked this question, we see that original movies and shows were really rated as extremely or very important items that are on you driven in part.

42:45

Bye.

42:47

By then, sewing, it's extremely important or to two thirds of our points.

42:54

But the Live Sports News TV show really claim the Ordinances Crown.

43:03

And you can see that or man, 53% of them were saying that live sports are very important or critically important.

43:14

Extremely important, in the decision to take on a new service.

43:20

You know, it's not going to surprise anybody that Wild Child Friendly program doesn't seem very large for overall app went for parents, 65% say it's very, very important.

43:32

So, you know, as people are looking at the potential or losing subscribers, or finding new ones, these are the critical factors that are going to help drive news.

43:50

There is a dirty little secret and that is the wonder for Affluents share their account logins and passwords.

44:00

Then these are sharing with people who don't live in their souls.

44:04

Now slightly more non our own household about one in three share passwords.

44:10

And of the lower we do see that about one in six affluence, access through someone else's account to get a waltz.

44:20

No.

44:21

Clearly, this is an issue that takes money away from the streaming services, and we know that at least, you know, in, in some instances, they're trying to get on with that.

44:35

But, you know, if we, what remains to be seen is what will happen to their audiences in general, their ability to reach large mass audiences if they know, if they really tighten things.

44:53

So, we were curious to see if there were some streaming services that were more severely impacted from the password sharing, but it's it's more or less consistent with some slight irrigations, whether you're looking at Netflix, or whether you're looking at Hulu, no commercials are paramount down. Plus, it's a relatively narrow range.

45:18

Most people ARR subscribing, and keeping the login, and the password within their own, you know, a relatively small portion, but nevertheless, a substantial enough to be a concern for the streaming services.

45:38

OK, so now let's turn over to binge watching, which I personally wish I could say that I was new to, but the truth is the vast majority of us come to you know what I call the siren call of binge watching.

45:52

You know, this need to get to the next episode or two, to get to the next reveal.

46:02

Whatever it happens to be.

46:05

Most affluenza binge watch shows three quarters of them are watching several episodes in a single sitting.

46:14

It's interesting to note that overall it's an increase of about 60. Excuse me, it's an increase from 65% just from 20 15.

46:25

And it's likely to be even more prevalent based on the generation skew.

46:30

You know, we see again, that gen Zs are 85% of them are binge watching, versus 43% of seniors.

46:40

And again, that comes back to this whole concept of Gen Z, you grew up at a time where binge watching and screaming rabidly event and part of that line so he didn't have to learn it.

46:55

It was something that, that came naturally to them.

47:00

It's not, for the faint of heart, binge watching it, certainly not for the faint of heart, because on average, Benj Watchers are spending 2.9 hours.

47:10

It is sitting watching your favorite shows, and all of this takes a toll emotionally.

47:18

43% of them saying, they feel, boy, when they finished Beijing or finished watching a show that energy.

47:27

You're not, you know, Thankfully, the pool is deep, and the next show, worthy and Benji is really just it's only a matter of time.

47:39

Now, of course, with this Commandment of Time and attention, it makes sense then use that.

47:45

As we look at it, Affluence are telling us they're more engaged with the shows.

47:50

They're committed to finishing all the episodes of one show before starting on the next one.

47:57

And I have to confess that the next day in this woman, I am very guilty of, as well.

48:01

Just, I often stay up later than I really should, or would defend, to finish binge watching it, showing most of us have done that because it is one of those things that can be quite compelling, quite addictive.

48:21

So moving away from binge watch it, and we're starting to run out of time. Let's spend a little time looking at what is capturing the attention of millennials, in particular.

48:32

And Gen Z is and it's podcasting.

48:35

In the affluent survey, we've been tracking podcasts for quite a while.

48:39

Since 20 18, we've seen the podcast audience grow from 29% to 45%.

48:47

Millennials in particular have embraced this format more than any other generation, including their younger account, students each.

48:55

In our spring 20, 22 release, nearly two thirds of millennials homeless they watched her listen to a podcast in the past 30 days.

49:05

Overall, 33% of affluent podcast listeners pay for at least one of them.

49:12

And that number jumps to 54% of Millennial podcast listeners.

49:17

So, not only are there are more more of them, mystic I guess.

49:23

But they are willing to, hey, count, during that same time, we track the number of applicants, seen the word advertising in a podcast, and perhaps what's, what's more is that, at that same time, both exposure and interest, ending advertising has grown.

49:46

So, you know, over time as podcasts and become more sophisticated in the advertising, that is all there is, it's grown in terms of the types are rising the approach.

50:00

We now see that there is considerable interest in that advertising, when Affluents do find a podcast that they like, they're extremely loyal to their creator.

50:14

So, 28% say that they listen to every episode, another 44% listened to most of the episodes here, so you really do see that there's this, there's a deep connection among podcast spirits.

50:30

Interestingly, listening to podcasts is really about a personal experience headphones in listening to the podcast.

50:40

About 85% of podcast listeners say they usually listen on their own.

50:45

They're not listening as a guru.

50:48

They're overwhelmingly enjoying podcasts and, think, seven in ten, Say that podcasts, give them something they just can't get from TV, radio, web, A smaller number, a fairly substantial portion of our audience, see podcasts as their main source of entertainment, and again, this is a among podcast listeners.

51:13

Interestingly, 3 and 4 podcast listeners say that they're almost always doing something else, rather, so their attention may be split between the podcast and their chores, or between the podcast and their driving whatever it happens to be.

51:31

So it will be interesting to see just how attentive they are to the messages within.

51:41

As with most forms of content, there's a wide variety of feeling to affluence is no overwhelming favorites, among the many genres.

51:51

Entertainment and comedy are still the two biggest podcast draws, but science, technology, news, or, Oops.

52:03

As with most things, word of mouth is really one of the primary ways in which people find new podcasts, keeping in mind that podcasts appeal mostly to the younger generations.

52:14

A second close, second to face-to-face word of mouth, really come true posts on social media sites.

52:23

So, you know, anyone looking to get there, or podcasts, or to expand the audiences, podcasts really need to focus on be getting people to spread.

52:38

So, we've we're running out of time, and we've thrown a lot of information at you today, really focusing the multiplicity of touchpoints media touchpoints, that applets see every day, whether it's from video, audio, print, social media.

52:58

So, let's try to recap what you heard today.

53:04

Know, clearly Affluents are drawn to media or for information they want to be knowledge.

53:11

But they also want a combination of excitement to pique their interest as well as, you know, place to relax and rain some, some relief from the craziness surrounding it.

53:29

If there are four things to focus on, whether it's the first is really about the sober or mood.

53:36

That Applewood sir facing right now, they're concerned about the state of the world, they're concerned about, know, in general, about the fate of the economy, they're generally confident about their own finances. They're sure about the US economy as a whole.

53:55

And there is the possibility that they will pull back in expenditures. But some of that may just be emotional.

54:03

We do know that the lower income, the match half, it feels there's more than the Ultra affluent, wealthy side of the spectrum.

54:17

So, you know, as advice we feel, the company should really focus those efforts on those higher income incomes to stabilize their sales.

54:27

Affluence, treat media as a way to stay or show regardless of the format, the platform they need that knowledge, They want information because information ultimately is power.

54:42

Especially in a world where markets are bottle, they need to understand how to face the future, what to do with their assets, how to manage their portfolios, so on and so on.

54:57

So, you know, when we look at these things, high income earners in general at an older say, they're going to turn to information sources.

55:04

They trust that are going to help them deal with what we call the vagaries of economic change, said there's a desire for you for respite.

55:15

Whether they're Benji X. Excuse me, it escapes ****, XK best programming.

55:25

Or whether they're, yeah there's looking at glossy travel magazines or fashion of vacations and we'll go to you, you get some relief from the pressures of the world, Apple, which you're going to continue to seek refuge in media brands. So that close attachment that they have to these brands is really going to produce it.

55:47

Wonderful halo effect for advertisers, generally positioning them in a very positive light.

55:54

Then ultimately, as as we say in most of these things, we have to be conscious of the changing of the Guard, as Millennials and Gen Zs can continue to claim their spots. In the affluent population.

56:08

Content providers, marketers are going to need to store their shift.

56:12

They're creative approach.

56:15

New forms, including immersive technologies, are going to be critical components out getting a strong content dissemination system setup.

56:27

Marketers will ultimately have to refine their own strategies to help deal with the continue. What I call micro fragmentation of audience.

56:37

So, I know that that's, that's a lot.

56:41

We've spent quite a bit of time, I appreciate all of you staying with us. I know we didn't get to your questions, but if you've got questions, we will get back to you through e-mail.

56:52

So, again, thank you all for your time, and we hope you found this valuable.