Entertainment
The State of Media & Entertainment Report: H1 2024
Report summary
Entertainment companies should be optimistic for 2024: The once-in-a-generation strikes are in the rear view, inflation is predicted to fall, and annual global ad spending could top last year’s total.
But capitalizing on all this requires monetizing intellectual property in new ways. For example, experiential activations may become more lucrative if entertainment spending continues to shift toward out-of-home activities. Succeeding in 2024 will require media companies to work with those they’ve previously shunned for new distribution opportunities.
Morning Consult’s semiannual State of Media & Entertainment report tracks evolving industry trends. Based on monthly surveys conducted since July 2022, this report provides actionable insights on trends that will affect any consumer-facing media business.
Key Takeaways
- Streamers’ live sports offerings are lacking: Platforms should show more live matches given consumers’ low satisfaction with sports programming.
- Leaving X is especially risky for sports brands: Users of X, formerly Twitter, are more likely to be sports viewers than users of any other major social platform.
- Gen Zers aren’t sold on reading the news: Only 30% of Gen Z adults say they actively follow current events, compared with 55% of adults overall.
- Gen Z relies on video games for escape: Gen Z adults are the most likely generation to lean on video games to “escape into another world.”
- Influencers matter for music streamer appeal: Younger consumers are more likely than older ones to care what music streamers influencers are using.
Methodology
Morning Consult data featured in this report draws from monthly surveys conducted from July 2022 to November 2023 among roughly 2,200 U.S. adults per month. It also includes data from various surveys fielded throughout 2022 and 2023 among representative samples of about 2,200 U.S. adults each.
All U.S. surveys were conducted online, and the data was weighted to approximate populations of adults based on age, gender, race, educational attainment, region, gender by age and race by educational attainment. Top-line results from the surveys have a margin of error of +/-2 percentage points.
About the author
Kevin Tran previously worked at Morning Consult as the senior media & entertainment analyst.
