The subscription video-on-demand (SVOD) customer churn rate is causing upheaval in the media content industry, including video games, music, and user-generated content (UGC). The Korean Deloitte Group has released a report titled ‘2023 Digital Media Trends 17th Edition: Immersion and Connection’, which explores the interconnectedness between digital media and content in the rapidly changing media entertainment market.
According to Deloitte’s Digital Media Trends Annual Survey, media content such as video streaming, social media, music, and games are consumed interdependently and connected rather than consumed independently. The younger generations, Generation Z and millennials, enjoy TV programs, movies, UGC, and video games, feeling a sense of immersion and forming communities. Personalized content is also reproduced to expand the connection between users and build attachment relationships through experiences that garner public attention.
The survey found that 48% of respondents from the
What role does personalized content play in enhancing the connection between users and digital media platforms, as highlighted in the Korean Deloitte Group’s ‘2023 Digital Media Trends 17th Edition’ report
Deloitte’s Digital Media Trends Annual Survey has revealed the significant impact of the subscription video-on-demand (SVOD) customer churn rate on the media content industry. This trend is not limited to just video games, music, and user-generated content (UGC), but extends to various other digital media platforms.
The recent report by the Korean Deloitte Group, titled ‘2023 Digital Media Trends 17th Edition: Immersion and Connection’, highlights the growing interconnectedness between digital media and content in today’s rapidly evolving media entertainment market.
According to the survey, media content such as video streaming, social media, music, and games are consumed in an interdependent and connected manner, rather than independently. This phenomenon is particularly predominant among the younger generations, including Generation Z and millennials. They enjoy TV programs, movies, UGC, and video games, as they feel a sense of immersion and actively engage in forming communities.
One key finding of the survey is that personalized content plays a crucial role in enhancing the connection between users and building attachment relationships. By offering tailored experiences that capture public attention, this personalized content enables users to expand their engagement and connection with digital media platforms.
The survey results indicate that 48% of respondents share the desire for digital media content to become more engaging. This underscores the need for content providers to constantly innovate and improve the immersive experiences offered to users in order to maintain their interest and loyalty.
The Deloitte report sheds light on the evolving landscape of the media content industry, highlighting the need for businesses to adapt to the changing preferences and consumption patterns of their target audience. By understanding the interconnected nature of various digital media platforms and leveraging personalized content, companies can effectively cater to the evolving needs of users and thrive in this dynamic market.
This Deloitte report provides valuable insights into the projected digital media trends for 2023, highlighting the growing importance of interconnectedness and immersion. As technology continues to evolve, it is crucial for businesses to adapt their digital strategies accordingly to stay ahead in an increasingly competitive landscape.
This Deloitte report highlights the exciting possibilities for the digital media landscape in 2023, emphasizing the increasing interconnectedness and immersive experiences that await us. Looking forward to witnessing the transformative power of technology and how it enhances our media consumption.