CES might be dominated by new releases and futuristic concept designs, but there’s also a whole bunch of new industry information that’s made public.
One survey that grabbed our attention on the opening day of CES 2021 was a new global questionnaire from Dolby. In it, the company dissected the ways that the COVID pandemic has changed the way we consume entertainment at home.
What Are the Key Findings?
The research drew three main conclusions about the way we experienced entertainment in 2020 and will continue to do so into 2021.
1. Sharing Entertainment Experiences
A startling 86 percent of respondents said that had enjoyed entertainment virtually with friends in the last 12 months.
Obviously, the pandemic has driven a large part of that phenomenon, but the fact the number is so high still surprised us.
Of the 86 percent, 45 percent spoke on the phone, 44 percent sent each other messages, and 41 percent engaged in live chats.
2. People Will Pay for Quality Shows
Many experts have mused that the fragmentation of streaming services into lots of competition will drive people back to piracy.
The survey appears to suggest that such worries are misplaced. Led by Millennials and Gen Z, consumer spending on content has rocketed by almost 40 percent in the last six months. Furthermore, 77 percent of those asked said they would happily pay more for a better picture or higher quality sound—two things that cannot be guaranteed when pirating content.
3. And They Will Pay for Quality Devices
The rise in spending on video content seems like it is also about to fuel an increase in spending on devices. It’s logical; what is the point of paying for lots of services if you cannot enjoy them in all their glory?
Indeed, 82 percent of respondents said they will buy a new device to upgrade their “viewing experience” within six months. A further 64 percent said they would specifically upgrade their living room.
Again, Millenials are driving the trend. 73 percent of them are likely to upgrade, compared with only 50 percent of Boomers.
John Couling, SVP of Commercial Partnerships at Dolby Laboratories, said he expected the desire for human connection during the pandemic to continue to push these trends heading into the next six months:
Ultimately, we expect the desire for more human connection to continue in the future and immersive experiences can help fulfill this demand. Just as entertainment drives cultural conversation, that conversation drives connection across the globe, and we are seeing connections grow stronger every day through elevated entertainment experiences.
Stay tuned for more industry news during the week.