According to findings in PwC’s “2022 Australian Media and Entertainment Outlook” report, Australians spent over $8 billion on streaming and gaming last year. Based on the report, it is believed that Australians spent $3.6 billion on video games in 2021.
“As in-person events return, this spending is likely to extend alongside habits around subscriptions, gaming, and access to content likely to stick,” said PwC Australia Director Dan Robins. “It was broadly believed consumers were stockpiling savings and consumer spending may have been down, given that in-person events are still only steadily returning and crowds returning through late 2021 and into 2022, this is certainly not the case.”
In total, the report showed that Australian households spend $4,500 a year on entertainment. This includes internet access, TV subscriptions, social gaming, podcasts, live events, and so on.
Since the Pandemic started, the money that goes towards entertainment has only gone up in Australia. In fact, spending on entertainment rose by 6.23% in 2021. Overall, the annual household increased its entertainment spending by $510 per year since 2019.
(All information was provided by The Guardian and The Sydney Morning Herald)
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