Global media inflation rate 2020-2024, by medium

Global media inflation rates are projected to vary significantly across different mediums in 2024, with online video leading at 4.2 percent and magazines at just 0.1 percent. This reflects the ongoing shift in media consumption patterns and advertising spend. The data highlights the resilience of digital platforms and the challenges faced by traditional print media in an increasingly digital landscape.

Digital dominance and traditional media's struggle

The disparity in inflation rates across media types underscores the growing divide between digital and traditional platforms. In 2023, online media worldwide experienced an inflation rate of 4.4 percent, more than double that of offline media at 1.7 percent. This trend is expected to continue in 2024, with online video and display maintaining higher inflation rates compared to newspapers and magazines. The shift is further evidenced by global media consumption patterns, with users spending an average of three hours and 48 minutes daily on mobile devices in 2024. 

Industry leaders and market dynamics

The changing media landscape is reflected in the revenue rankings of top media companies. In 2023, tech giants Alphabet Inc. and Meta Platforms Inc. led the pack, followed by traditional media conglomerates like Comcast Corporation and Walt Disney. This hierarchy illustrates the growing influence of digital platforms in the media industry. The United States remains a crucial market for these companies, with American consumers spending an average of over 12 hours daily consuming major media. As the global entertainment and media market continues to expand, and projections suggest it could reach a value of 3.3 trillion U.S. dollars by 2027, driven largely by the continued growth of digital platforms.