COVID-19 outbreak will impact consumer consumption patterns of podcast, music, and news services
A new consumer study from Parks Associates finds 36% of US broadband households listen to podcasts weekly, although the research firm expects new patterns of video, music, and news consumption to emerge as a result of the current public health crisis with COVID-19.
Adoption and Business Models: Video, Music, and News Services explores service uptake, business model preferences, service spending, and value perceptions for video, music, and news services among differing consumer segments. The study finds that podcasts have a stronger appeal among younger consumers than older consumers and almost half of podcast consumers are heavy users, spending more than five hours per week listening. Podcast users are also very interested in bundling podcast services with video and music.
The research also reports that in 3Q 2019, 9% of US broadband households subscribed to an online news service.
“While news consumption is going up during the COVID-19 crisis and daily briefings, most online news outlets have provided their coverage free of charge or outside of the paywall, so the number of households subscribing to an online news service will likely not increase as much in the short term,” said Steve Nason, Research Director, Parks Associates said. “Long term, we will be tracking consumer trends to see if current events will drive broader online news consumption and subscription habits.”
Parks Associates is launching multiple surveys in April 2020 to quantify the impact of the COVID-19 outbreak on consumer behaviors, purchasing, and usage of connected devices and services, titled COVID-19 Impact on Communications and Entertainment and COVID-19 Impact on Telehealth and Independent Living. For more information, contact sales@parksassociates.com.
To request data or an interview, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.
About Parks Associates
Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. Parks Associates provides custom research, strategic consulting, and forward-looking analysis across connected home, small business, and commercial markets, including security, smart home, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.
Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.
Follow Parks Associates on LinkedIn, Facebook, and Instagram.
