The technology, media and telecommunications (TMT) practice at Deloitte has launched its 17th annual edition of TMT Predictions.
The report predicts that traditional TV viewing by 18-24 year-olds in the UK will decline by ten to 15 per cent in 2018 and 2019, but expects the rate may lessen thereafter.
Paul Lee, head of research for technology, media and telecommunications at Deloitte said: “Many forces that distracted young people away from traditional TV, such as smartphones, social media and video piracy, have peaked. Digital distractions will remain, but their impact is unlikely to increase further.
“Nevertheless, broadcasters, distributors and advertisers have to react to changing consumer habits. To this end, measurement’s scope will need to expand to include reactions to viewing, as well as minutes viewed.”
TMT also predicted live broadcast and events will generate £400 billion in direct revenue in 2018 globally, with 98.5 per cent of revenue generated by traditional forms of media, entertainment and leisure. These include TV, cinema, sport events and live music and theatre performances, with the remainder coming from two emerging sectors: eSports and live streaming.
In the UK, the live media sector will generate £24 billion in revenues this year, two percentage points higher than 2017.
Globally, TMT expects live TV and radio broadcasting to generate 72 per cent of all live revenues in 2018, with the largest component being broadcast TV, with £265 billion from advertising and subscriptions.
Finally, total live streaming revenue – based on digital tipping – is expected to be £5.5 billion this year, with China the largest market. This would represent a 47 per cent increase from 2017.
