Digital Consumer Trends 2020 – The Nordic Cut
The Nordic streaming war intensifies while audio consumption is growing
The competition on the Nordic video streaming market is increasing, and new entrants are challenging the current Nordic frontrunner, Netflix. Meanwhile, Nordic consumers are increasing their audio consumption.
Our survey shows that an average of 26% of the Nordic consumers stream more movies and/or TV series as a result of staying at home during the corona pandemic. 16% state that they will continue to stream as frequently as they do now once the virus has been contained. Data from the survey also indicates that an average of 59% of the Nordic consumers have access to a paid video streaming service. When assessing the degree to which the different age groups have access to video streaming services, it becomes clear that the younger consumers in particular have greater access compared to the older age groups. 79% of the 18-24 year olds have access to a video-on-demand service, while only 32% of the 65-75 year olds have access.
How important is audio?
Silence seems to be all but golden for the modern Nordic consumer who constantly listens to audio whether at the gym, on the way to work or out walking the dog. Nordic consumers especially seem to use their smartphones to stream music, and this is particularly true for the younger part of the Nordic population. Almost three out of four (72%) of the 18-24 year olds have access to music streaming services. While the younger part of the population seems to embrace music-streaming services, it simultaneously becomes clear that access to music streaming services is lower in the older age groups. 65-75 year olds have the lowest level of access with 26%.
The gaming industry is a force to be reckoned with
The global gaming market is a US$150 billion industry and is growing by 10% annually. Innovations, such as cloud gaming in combination with the improved technological infrastructures that follow with 5G, are expected to lead to further growth in this market.
Gaming has increased during the coronavirus pandemic, and the smartphone is the preferred device to play games on according to the Nordic consumers. 26% of the respondents indicate that they prefer their smartphones for gaming. Smartphones (26%) and gaming consoles (12%) seem to be the devices enjoying increased popularity among the Nordic respondents – preference for gaming on desktop computers, laptops and tablets has been on a downward trend since 2017.