By 2019, websites will be the main source of entertainment
If your online offerings are not informative and engaging, they will be irrelevant.
One area you can look to as an indicator of this trend is the increase in time spent with Internet connected devices. The average jumped from 109 minutes per day in Q1 of 2012 to 177 minutes per day in Q3 of 2014. Consumers added 68 minutes a day with their mobile device (a 62% increase) and remained flat with minutes per day watching TVs.
- According to Bloomberg Business, as of November 2014, people with access to a smartphone or tablet now spend an average of 2 hours and 57 minutes on them each day, putting phones ahead of televisions in terms of usage. Television, on the average, gets about 2 hours and 48 minutes of attention each day, according to the Bureau of Labor Statistics. The mobile device emerges as an even bigger winner when you filter the data for dedicated users. Digital analytics firm, Flurry, clocks daily mobile device users at 3 hours and 45 minutes per day, compared with 3½ hours for daily television watchers.
- The rise in time spent on mobile should eventually lead to a correction in the advertising industry, as Mary Meeker of Kleiner Perkins Caufield & Byers pointed out in her 2014 annual Internet Trends report. Theoretically, advertisers should spread their dollars across different kinds of media at roughly the same proportion as customers spend their time. Right now that’s not true. Meeker thinks that mobile and Internet advertising have about $30 billion worth of growth to come just from the reallocation of ad dollars to account for changing media habits. Cable-TV networks are seeing the growth of their advertising businesses slow.
Continue the conversation! Contact Bruce, Principal of Stamp.