In the wake of a thematic focus increasingly relevant in the international audio video panorama, that of broadcast and AV content creation, here is an interesting overview of the Italian digital content market.
The integration between technology, broadcast channels and content is a reality in the entertainment world. Driving its growth, as always, is market demand. This is why we find it interesting to know what Italians think and how they spend their leisure time on audio and video content.
In fact, the Digital Content Observatory of the School of Management of the Politecnico di Milano tells us that Italians in 2023 invested 3.6 billion euros (+5% on 2022) in the consumption of digital entertainment and information content, with a preference for video and audio formats. A figure that, in truth, consolidates a market that had already ‘blossomed’ during the pandemic period and that, usefully, rationalises the ways forward for operators in the sector.
What the multimedia content market looks like
Overall, the most relevant sector remains video entertainment, which accounts for around 44% of total expenditure (around EUR 1.6 billion) and is growing year-on-year by 7%. As for distribution modes, Subscription Video on Demand (SVOD) models are now responsible for almost all purchases, while Transactional Video on Demand (TVOD) models are moving towards a marginal role. Noteworthy, however, is the emergence of hybrid solutions and new ASVOD (Ad-supported Subscription Video on Demand) models.
The average growth rate of digital audio is also growing, although in absolute value it represents ‘only’ 9% of the market. Music is undoubtedly the most mature content, with a predominant and established streaming model. But audiobooks are gradually carving out a role for themselves and podcasts are confirmed as a lively content, which is nevertheless struggling to find an economically sustainable model.
Finally, as for gaming, second in absolute value of expenditure, after being overtaken by video, the sector covers 42% of consumer spending (over EUR 1.5 billion) and returns to growth after the slight contraction in 2022, recording +2%. Having overcome the setback caused by the semiconductor crisis and thanks to the spread of digital-only consoles, the sector is now consolidating its value.
