‘Indian Consumers Willing to Spend More on Enhanced Video, Audio Quality and Devices: Global Study’
New Delhi: Today, Dolby Laboratories, Inc. (NYSE: DLB), a leader in immersive entertainment experiences, released findings from a new global study illustrating a significant shift in consumer entertainment behaviour in India. The new homebound work & leisure economy has led to a sky-rocketing demand for new and quality content and for better devices. As per a new Global Consumer Study by Wakefield Research conducted in four countries for Dolby, Indian consumers are now prioritizing and seeking better experiences possibly driven by long hours spent at home. Indian consumers are spending more on quality in order to better connect with content-and to connect with each other.
“Despite all of the challenges of this past year, this study has illustrated the power of entertainment in bringing us together with those that are most important to us,” said Pankaj Kedia, Managing Director, Emerging Markets, Dolby Laboratories. “We take great pride in creating more immersive experiences through our technologies and see the significant growth of Dolby Vision and Dolby Atmos as proof that consumers are seeking these experiences as well.”
According to Nathan Richter, Senior Partner at Wakefield Research, “We are all confined and what better way to use this time than to bond with friends and family, both in-person and virtually. People love entertainment and there is an exponential rise in demand for quality content that can be enjoyed in the comfort of one’s home. People recognize that high quality sound and visual experiences have a huge impact and make viewing more exciting. More than that, it enhances the entertainment experience and helps people to better connect during these challenging times.”
The Wakefield study on ‘Quality Time is Quality Picture and Sound’ highlights shifting consumer patterns for content consumption. It throws light on their preferences and the willingness to invest in premium quality content and in devices and to be able to have an enhanced audio and visual experience that is helping increase family bonding time.
The India leg of the study conducted across six cities, including New Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Ahmedabad, was aimed at understanding the changing content consumption habits during the pandemic. The study cuts across generational breaks and includes the voice of Gen Z, Millennials, Gen X & Boomers.
Here are some of the most interesting study findings:
Contented by Content – COVID-19 has driven many Indians to use entertainment as a way of unwinding, including 66% of Indian respondents saying they use it as an opportunity to relax and 60% saying they find it as a good social experience of watching with others.
Ripped from the Headlines – Current events can drive viewers to entertainment and even alter their choices. This includes 92% respondents in India, who said the news impacts what they watch.
Investing in the Experience -.The study shows that consumers are spending more on quality in order to better connect with content-and connect with each other. Compared to the start of the year-
97% of Indian respondents have increased their monthly spends on content by 48% on an average compared to the start of the year
88% of Indians respondents have in the past six months already invested in upgrading their streaming services
96% Indian respondents plan to upgrade their entertainment equipment in the next 6 months
Equipment upgrades include better mobile devices. In India, 61% respondents plan to upgrade their mobile device to improve their viewing experience
Worth It – Consumers connect with their content better with enhanced picture and sound quality. 94% Indian respondents would pay more for a premium subscription to receive enhanced picture and sound quality
Broadened Horizons – As consumers stayed at home with more time to watch, many consumers got into a genre of content they had not consumed before
95% Indian respondents got into new types of content they didn’t watch before
Those engaging with new types of content had a wide variety to pick from. In India, streaming live music events lead popular new content (50%), followed by comedy (48%), video game streaming (46%) & DIY videos (45%).
Multiple ways to Watch – In India, 29% say their smartphone is their primary entertainment device. This is followed by 22% who say television and 20% who say computer.
Smaller Screens, Higher Quality – Consumers are particularly interested in enhanced picture and sound quality for watching movies and TV shows. In India, 49% respondents rank movies as one of their top-two forms of entertainment that merit enhanced quality.
Work Hard, Play Hard – With work now requiring video conferencing, many are “borrowing” that tech for personal purposes. In India, 92% respondents are using work video applications for social purposes, including 80% who do so often or all the time.
First Time for Everything – In India, 65% respondents of those who engaged in live-chat while watching streaming videos did so for the first time.
At Dolby, we are committed to bringing premium, immersive experiences to as many people as possible. Just in the last year, the adoption of Dolby Vision and Dolby Atmos in the home has been widespread. There are hundreds of millions of Dolby Vision and Dolby Atmos enabled devices in market from the world’s leading device manufacturers.
As this study shows, the drive for better experiences doesn’t stop at devices. Content adoption is also growing rapidly, completing the ecosystem that we have been building through global partnerships with leading streaming services that continue to release their top shows and films in Dolby technology every month.
“Ultimately, we expect the desire for more human connection to continue in the future and immersive experiences can help fulfil this demand,” added Pankaj Kedia, Managing Director, Emerging Markets, Dolby Laboratories. “Just as entertainment drives cultural conversation, that same conversation drives connection across the globe, and we are seeing connections grow stronger every day through elevated entertainment experiences.”
Wakefield Research conducted a quantitative research study between October 1st and October 16th, 2020, among Nationally Representative Adults Ages 18+ in China (2,000), France (1,000), India (1,000), and the U.S. (1,000). Quotas have been set in each market to ensure reliable and accurate representation of adults ages 18+.