BrandTrends, as the market research specialist in the Licensing and Toys industries, has revealed the growing empowerment of consumers in the Entertainment and play marketplaces.
According to CEO Philippe Guinaudeau, “Consumers are increasingly taking control of the experiences they have with brands. This trend, which first became apparent as tight signals at the end of 2021, began to accelerate mid-2022. Kids and adults alike are becoming more and more eager to fully design their interactions with brands“.
One of the key drivers of this shift is the growth of streaming services. This has led to a decline in traditional forms of content consumption, such as watching television, and a rise in the use of platforms like YouTube and Twitch. BrandTrends research shows that 17% of kids 3 to 14 in the US watching contents somewhere other than TV, compared to 26% watching TV only. The rest split their usage across platforms, driving YouTube to be the favorite social network for 41% of 3-14-year-olds in the US, and 52% among 3 to 6-year-olds.
This change in consumption habits is also impacting the way consumers interact with brands, as they are now able to design their own experiences with the content they consume.
The licensing sector is important in the toy industry for children aged 0 to 14, with LEGO being the most popular brand globally. Toys and games, however, aren’t just for kids, as LEGO also comes in second among people aged 0 to 65.
Marvel, as most favorite brand, is on the path of unseating LEGO as most appealing brand among 0 to 14-year-olds and people aged 0 to 65 worldwide.
Considering Marvel and DC Comics, amongst other things: Superheroes as standalone characters have slowly faded over the past year to the benefit of the mother franchise Marvel as the most favorite brand. Basically, consumers essentially only took the mother brand into account rather than the individual characters when questioned for their favorite brands.
More and more kids aged 10 to 14 are experiencing virtual reality and metaverse. Our Kids Digital Lives reports show that 71% of kids 10 to 14 have experienced virtual reality and 57% of them are satisfied with their experience. Additionally, 80% of them have heard about metaverse and 20% look forward to using it more.
In short, they are becoming increasingly comfortable with these technologies and are demanding more immersive and personalized experiences. This trend is likely to continue to grow in the future and should be taken into account in the development of toys and games to maintain a leadership position in the industry.