Forecast: Consumer Media Spending Slowdown Expected

In 2024, global consumer spending on media content and technology rose by 4.4%, reaching $2.371 trillion, according to PQ Media’s Global Consumer Spending on Media Forecast 2025-2029. While this growth reflects continued consumer engagement with media, it marks the third consecutive year of decelerating growth following a decade-high surge in 2022. The slowdown, which follows a 4.5% increase in 2023, is attributed to declining consumer confidence, which has reached its lowest level since the COVID-19 pandemic.

Patrick Quinn, CEO of PQ Media, highlighted the impact of this confidence dip, stating, “Economic uncertainty and shifting consumer priorities will likely lead to reduced discretionary spending in 2025 and potentially beyond, with additional uncertainty stemming from unforeseen policy changes during the remaining years of the Trump administration.” Quinn’s remarks point to a cautious outlook, as global markets navigate economic headwinds and potential disruptions from international tariffs and evolving trade policies.

The United States solidified its position as the world’s largest media economy, accounting for $544.18 billion in total media and technology spending in 2024.

Looking ahead, PQ Media projects a leaner growth trajectory for global consumer media spending from 2025 to 2029. Several factors contribute to this cautious forecast:

• Decline of Legacy Formats: Obsolete categories such as CDs, CD players, MP3 devices, and DVDs are fading from relevance, dragging down overall growth in traditional media. Even once-dominant technologies like tablets and smartphones are expected to see declining growth rates as markets reach saturation and innovation slows.
• Economic Pressures: International tariffs are exerting pressure on both developed and emerging markets, particularly in sectors reliant on digital delivery and hardware manufacturing. These trade barriers could increase costs for consumers and limit access to affordable devices and services.
• Digital Platform Slowdown: Previously high-performing digital platforms, including streaming services and social media, are projected to experience slower growth as competition intensifies and consumer spending tightens.