PQ Media: Global Consumer Media & Tech Spend Grew 4.4% In 2024, But Pace Continues To Ease.

Consumer spending on media content and technology increased 4.4% to $2.371 trillion globally last year, but the result marked the continuation of a discouraging trend as the pace continued to decelerate, new research from PQ Media finds.

According to “Global Consumer Spending on Media Forecast 2025-2029,” the third straight year of easing growth came after a 4.5% gain in 2023, which followed the strongest growth in consumer media spend in a decade in 2022.

The 2024 slowdown was greater than expected as the company said several categories underperformed, particularly movie admissions. They rose at mid-single-digit rates in most markets where a double-digit gain had been projected, PQ Media said in a news release, adding that fewer movies overall were produced last year, including by the major streaming services, as even the movie hits underperformed expectations.

Overall, global consumer spending on media content grew 8.1% in 2024 to $1.075 trillion, while total media-related technology spending increased just 1.4% to $1.296 trillion. Consumer spending on digital media content and tech worldwide increased 5.7% in 2024 to $1.783 trillion, while end-user spend on traditional media content and tech inched up 0.6% to $588.56 billion, PQ Media said.

The U.S. remained the largest consumer media and related tech market with total expenditures of $544.18 billion in 2024. Globally, consumers spent an average of $395.43 on all media content and related tech in 2024, a 3.9% gain over 2023, of which $297.29 was spent on digital media and $98.14 on traditional media, according to the report.

The research, however, suggests consumer spending on media will continue to decelerate this year through 2029 as several media categories become obsolete. Among them: dial-up internet; feature mobile phones (which lack the advanced functionality of a smartphone); music CDs and CD players; single music downloads and MP3 players; and video DVDs, DVD players and home video subscriptions.

PQ Media expects another deceleration in 2025, due to the possibility of a global recession due to U.S. tariff possibilities under President Trump, and counter tariffs put on U.S. exports. A number of economists are predicting a global recession.

“Consumer confidence has fallen in most markets to the lowest level since the pandemic, which will result in consumers trimming discretionary spending in 2025, and possibly beyond dependent upon unforeseen Trump policies in the remaining years of his term,” says PQ Media CEO Patrick Quinn. “While consumer spending on media will accelerate in even years, the growth rates will be significantly lower than previous years that international sporting events were held. The tariffs are impacting both developed and emerging markets, particularly relating to electronically delivered content and the devices that are used to upload the content.”

The Americas are expected to post growth spurts during the forecast’s even years. In 2026, the U.S., Canada and Mexico will co-host the FIFA World Cup, and in 2028, the U.S. will host the Summer Olympics.