Homebound is not for living beings; at least for humans! But for the last one year, the world has been dealing with a deadly pandemic and were locked for a major part of the year. From homebound work to homebound leisure, humans were left with just one option to unwind themselves – online entertainment. Hence a lot of them use it as a tool to relax. A global study by Dolby Laboratories (NYSE: DLB) states that 66 percent of Indian respondents nods to this, while 95 percent of Indian respondents got into new types of content they didn’t watch before.
The study said that the new homebound work and leisure economy has led to a sky-rocketing demand for new and quality content and for better devices. Hence 94 percent of respondents in India are willing to pay more for a premium subscription for enhanced video & audio quality, while 96 percent say they plan to upgrade their entertainment equipment in the next six months. The global study by Wakefield Research titled ‘Quality Time is Quality Picture and Sound’ conducted in four countries for Dolby states that Indian consumers are now prioritizing and seeking better experiences possibly driven by long hours spent at home.
“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,” Pankaj Kedia, Managing Director, Emerging Markets, Dolby Laboratories.
The study highlights the shifting consumer patterns for content consumption, where consumers are ready to invest in premium quality content and better devices to be able to enhance their online entertainment experience. The Indian leg of the study was conducted across six cities aimed at understanding the changing content consumption habits during the pandemic and includes the voice of Gen Z, Millennials, Gen X & Boomers.
One interesting finding about the study is that nearly 97 percent of Indian respondents have increased their monthly spends on content by 48 percent on an average compared to the start of the year. Moving to new content is another trend prominent in the study, streaming live music events tops the chart (50 percent) followed by comedy (48 percent), video game streaming (46 percent) and DIY videos (45 percent).
“Ultimately, we expect the desire for more human connection to continue in the future and immersive experiences can help fulfil this demand,” added Pankaj. “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.”