UK media attention is largely concentrated in audio and social formats, but significant portions of the industry’s revenue and profits accrue elsewhere. Live events such as amusement parks and sporting events generate 18 percent of market revenue but account for less than 1 percent of the 274 billion hours of content consumed each year. Meanwhile, audio comprises 28 percent of consumer hours but only 6 percent of revenue. McKinsey’s Andrew Goodman, Bogdan Toma, Jamie Vickers, and coauthor explain that closing the gap requires sharper differentiation and clearer value propositions that convert attention into sustainable earnings.
Image description:
A set of 3 stacked bar charts compares the share of content consumption, revenue, and earnings by industry in the UK for 2024, alongside a table showing compound annual growth rates (CAGR) for consumption and revenue through 2028. The first bar chart, representing the total of 274 billion hours consumed per year, shows that audio for the largest share at 28.4%, followed by social at 22.5%, and linear video at 20.9%. The second bar chart, for £53 billion in yearly revenue, is led by linear video at 21.9%, social at 19.3%, and gaming at 12.3%, with streaming video at 11.9%, live at 18.0%, audio at 5.7%, print publishing at 7.8%, and digital publishing at 3.2%. The third bar chart, showing £12 billion in earnings, shows that video comprises the largest share at 29.9%, followed by social at 22.5% and streaming video at 10.9%. Gaming accounts for 14.7%, print publishing 4.6%, digital publishing 3.4%, and audio 3.4%. The CAGR table on the right shows that social and gaming are expected to grow fastest in both consumption and revenue, while linear video is projected to decline.
Note: This image description was completed with the assistance of Writer, a gen AI tool.
Source: Global ad forecast, MAGNA, June 16, 2025; Global consumer media usage forecast 2025-2029, PQ Media, Apr 2025; Global telecom and entertainment & media outlook 2025–2029, PwC, July 2025; Omdia; McKinsey analysis of Emarketer.
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