Can media companies overcome audience fatigue? Well, it’s complicated
According to Deloitte’s 2024 Media and Entertainment Consumers Insights Report, Australians are switching and logging off in droves.
Peter Corbett, national telco, media and entertainment sector lead at Deloitte Australia, looks at what media companies can do to overcome this trend.
The COVID era is a time most of us would love to forget – with the notable exception of our media and entertainment industry.
Locked down, bored, and scared, there was nothing for Australians to do but alternate between staying informed and staying entertained. Our days were given meaning by the daily Premier-hosted news conferences and doomscrolling social media while bingeing whatever flavour of the week tv show was taking the world by storm. (Does anyone remember Tiger King?)
It was truly a magic formula for media and entertainment brands. Digital subscriptions to news brands exploded, social media engagement spiked, TV and radio audiences grew after years of decline and streaming became truly mainstream, with the average number of digital entertainment subscriptions per household jumping from 2.3 to 3.2 between 2021 and 2023.
