More and less? A typo right off the bat? Nope, not a chance. That’s a statement about time, which as I think we all know is a zero-sum game. Even if you don’t sleep there are still only 24 hours in a day. Why this is of note today is a report from the Nielsen folks and the implications the findings hold for you.
The total media consumption across all devices and platforms jumped one hour from the first quarter of 2015, to 10 hours, 39 minutes. (A year earlier, there had only been a seven-minute year-over-year jump in daily media consumption.) That’s mostly due to smartphone use, which has soared 37 minutes, and tablet use, which has increased 12 minutes. Internet on PC jumped 10 minutes, while multimedia devices, including Apple TV and Roku, were up four minutes. Video game consoles and DVR use was flat, while DVD use dipped one minute and live TV dropped three minutes year over year. Nielsen’s data indicates that consumers aren’t pulling away from linear TV, but instead are making additional time for these new devices.
An hour more each day with media sounds wonderful if you’re in the media business. The real question this raises with me is from where are consumers getting that extra hour? Do you think they’re sleeping less? Leaving work early? Maybe they’re watching on the job (so much for productivity). No, I suspect they’re just not doing something else. Shopping, dining out as much, going to other recreational activities. All this means is that as selective as consumers were in allocating their time to your non-media business they’re going to be even more so. That reinforces the need for all of us to provide value every time we have a consumer interaction or we won’t be having as many down the road.
As an aside, I’ll remind us that most of us, even if we make package goods, are now in the media business. Social sites, home base (your website!), and content we provide to others are all media, so it’s not a lost cause. Obviously, it’s fiercely competitive out there, and the hour more each day that consumers are spending in the space doesn’t mean they’re any less frugal with the time they spend. The job for each of us is to make up for the hour less they’re outside of media where we live and capture their attention within the extra hour they’re spending inside. We can do that through great content, content which is focused on providing value and solving their problems. Make sense?