The home content creation market skyrocketed in 2020, with total global revenues growing by nearly 80% year-on-year, according to a new survey and sizing report from Futuresource Consulting.
“Last year’s stay-at-home measures had a significant positive impact on this market,” says James Kirby, Senior Market Analyst at Futuresource Consulting. “While other sectors were sinking fast, home content creation was sailing into the sunshine. It’s not a temporary fad, either. Many of the pre-existing factors that drove content creation forward have been permanently elevated above previous levels.”
The Futuresource survey, carried out with more than 16,000 consumers across eight countries, shows that video has become a driving force in home content creation. Gamers, vloggers, streamers, videographers, podcasters, teachers, trainers, live event recorders, and even musicians, are all placing an overwhelming emphasis on video creation at home.
Using a combination of end-user feedback and market sizing, Futuresource estimates that there are almost twice as many video owners compared with audio product owners across the home content creation market.
“Of the content creators we spoke to, three in every four told us the pandemic influenced them to spend more time creating content,” says Kirby. “What’s more, two in every three said they expect to continue to increase the amount of time spent creating over the next 12 months, despite them being likely to spend less time at home. That’s due to factors that include learning, expression, popularity and fame, inspiration, consumption, and being able to improve the quality of output.”
Learning has always been key to content creation’s success, and lockdowns have given creators the time to learn and hone their skills, ultimately resulting in better content. Better content generally means more satisfaction from the content produced, and therefore accelerates the content creation cycle.
Inspiration is also a vital dynamic, as content breeds content creators, with famous and mid-level creators acting as inspiration to those thinking about beginning their content creation journey.
“With more than 90 million content creators owning some sort of professional audio or video equipment for content creation, this is becoming a significant market opportunity,” says Kirby. “Our survey identified a wide range of products in use, from webcams and USB microphones, through to audio interfaces, mixing desks and professional camcorders. The growth that’s being propelled forward is attracting many new brands to invest in the space.”
Gaming brands like HyperX, Razer and Elgato have made a significant impact on the USB microphones market, shaking up the brand landscape which traditionally comprised of pro audio brands. Innovation is also happening on the video side, with users adopting pocket digital cinema cameras, and using action cameras as high-quality all-round content creation devices. “Webcam” functionality and the ability to stream has been important for success across both of these categories.
Although component shortages will pose a problem for manufacturers in the mid-term, Futuresource expects continued industry growth over the 5-year forecast period.
The content creator survey and sizing report from Futuresource Consulting is based on more than 16,000 interviews across the USA, UK, Germany, France, Spain, Brazil, China and India. Key product areas explored include microphones, audio / video editing software, mixing consoles, audio interfaces, headphones, studio monitors and speakers, controllers, video capture devices, tripod and gimbal stabilizers, lighting, PCs and more. For further information or to make a purchase, please contact firstname.lastname@example.org
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