COVID-19 Shifts Streaming Content as Subs Growing
COVID-19 confinement rules led to a drop in music streaming consumption for some services, reported Futuresource, because subscribers spent less time in places where they typically listened, including cars and gyms. “Consumers’ routines have been disrupted," blogged analyst Alexandre Jornod.…
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The type of content being consumed has adapted to become more home-friendly, "lean-back" and mood-inspired; podcast listening about news, fitness, cooking and kids has also grown, said Jornod Monday. Subscriptions haven’t been affected, with some services reporting an uptick, and video streaming services such as Netflix and Disney Plus grew, reflecting homebound entertainment trends. Futuresource expects streaming music subscriptions to be “unaffected” by COVID-19, growing 19% in 2020 to 371 million globally. The research firm expects VOD subs to exceed one billion by midyear. The lockdown is encouraging more TV viewing and a change in behavior, as gaps in live TV scheduling encourage consumers to “look elsewhere for entertainment,” said analyst David Sidebottom.