Research: Sweden media spend hits record levels
October 24, 2023
Household media spend in Sweden durng Q3 increased by six per cent compared to the same period last year, hitting record levels, according to Mediavision in its Q3 analysis of the Swedish media economy.
Growth was primarily driven by an increase in individual purchases, especially cinema tickets. The number of households buying cinema tickets increased by nearly 40 per cent 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 (€72.90) per month was reached, which represents a growth of SEK 45 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.
During Q3, on average, 25 per cent 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,” commented Marie Nilsson, CEO of Mediavision. “When other major expenses are put on hold, media is something many prioritise. This is proof of the strong role that media plays in the lives of Swedes, especially in uncertain times.”