Sweden's household media spend reaches record level in Q3Monday, October 23rd, 2023
Mediavision: Household media spend reaches new record level in Q3
Household spend on media continues to rise in Sweden. In the third quarter, average monthly spend on media reached a new record level of SEK 855 (~$78) on average. Despite a weaker economy, household media spend has increased by six percent compared to the same period last year. This is confirmed by Mediavision in its Q3 analysis of the Swedish media economy. Growth is primarily driven by an increase in individual purchases, especially cinema tickets. The number of households buying cinema tickets increased by nearly 40 percent compared to the same period last year.
Despite a weakening economy, household spend on media services is on the rise. In the third quarter, a new record level of SEK 855 per month was reached, which represents a growth of SEK 45 or six percent compared to the same period last year. The analysis covers all types of media purchases, such as subscriptions for newspapers and video services, as well as individual purchases, like cinema tickets. Mediavision can confirm that growth is primarily driven by increased spend on cinema, even though individual purchases of, for example, video games have also increased. During Q3, on average, 25 percent of households bought at least one cinema ticket per month, which is a significant increase compared to the same period in 2022. A strong contributing factor is the release of blockbusters Barbie and Oppenheimer, which both attracted a large audience. However, despite the increase, monthly reach for cinema remains significantly lower than before the pandemic.
“Just like during previous economic downturns, we see that paid media services are doing well,” comments Marie Nilsson, CEO of Mediavision. “When other major expenses are put on hold, media is something many prioritize. This is proof of the strong role that media plays in the lives of Swedes, especially in uncertain times.”