Global lockdowns are changing consumer behavior towards digital entertainment and online education

The current COVID-19 pandemic has likely forever changed the way we consume entertainment as well as the way we work and learn. As more people around the world were confined to their homes, many had to find new ways to adapt to a world in which we only communicate online.

Payoneer, a leading cross-border payments platform, recently released two reports, specifically in the areas of live entertainment and e-learning, which provide insight into how COVID-19 is rapidly reshaping behavior. consumers and how businesses and solopreneurs around the world are adapting. .

The boom in live streaming

With tough lockdowns in place around the world, the sudden shift to consuming entertainment via live streaming and social platforms has made it easy for gamers, retailers and influencers to connect with their fans around the world in time. real.

While there’s nothing quite like the experience of watching an event in person, for marketers and businesses, live streaming is the closest thing to physically connecting with their customers. during the COVID-19 pandemic.

Even before the onset of the pandemic, however, popular social video-sharing platforms such as ICT Tac, a platform that allows users to create, promote and react to short music videos of themselves, was booming. Indeed, earlier in March, the app had an astonishing 18% increase in downloads week over week in the United States only.

As for the interactive entertainment area, live games increased by 45% between March and April 2020, and more specifically mid-March saw a global increase in streaming audienceswith a 10% increase in viewership for Twitch and 15% for YouTube Gaming.

Moving eastward in China, the live streaming industry has quickly become an important platform for revenue growth, completely changing the way e-commerce in the region is conducted. Due to COVID-19, direct purchases boomed, and local e-commerce giants like boosted sales by partnering with live streaming platforms like Kuaishou, allowing users to purchase products through live streams.

Livestream amid COVID-19 lockdowns

In Payoneer reportlive streamers around the world report on the impact of the pandemic on their income, the benefits live streaming offers them, and what they think the future holds for this thriving post-pandemic landscape.

As a result, 51% of survey respondents mentioned that they had only been earning from live streaming platforms for less than a year, suggesting that the current pandemic came at a time when live streaming had already begun. to soar. With more people at home than ever before, the pandemic has given the landscape a significant boost.

When it comes to their live streaming income, 38% expected their income to increase during the pandemic while 25% expected them to earn about the same, suggesting that With lockdowns in place around the world, viewers are craving entertainment more than ever to help take their minds off things and interact with others.

Going forward, what opportunities will arise for this booming industry once the pandemic passes? 62% of live streamers said they expected their revenue to increase after COVID-19, while only 11% believed their revenue would decrease, suggesting that the future for live streamers is bright.

The rise of online learning in a post-COVID-19 era

When it comes to the field of e-learning, while online education has grown steadily in recent years, the COVID-19 pandemic has rapidly paved the way for even stronger market growth. Social distancing measures and the sudden shift to quarantine have forced millions around the world to quickly adapt to a new reality; connect only online to teach, work and learn. Others found themselves out of a job and had to quickly shift gears to learn a new job, digital.

Even before the outbreak, however, the e-learning industry was skyrocketing, with the market expecting to soar $350 billion by 2025.

According to Payoneer report in online learning, 74% of professional skills teachers and 73% of foreign language teachers have joined the online education industry in the past two years, suggesting that demand for e-learning has exploded in recent years, even before the pandemic hit.

Interestingly, the earning potential is an attractive aspect that attracts teachers from all over the world. According to the survey, 58% of foreign language teachers earn more than $500 per month and almost half of them earn between $1,000 and $3,000 per month. Depending on where these online teachers live, this level of income can provide a comfortable lifestyle.

As for those who teach vocational skills, almost 52% generate an income of more than $500 per month, 21% earn between $1,000 and $3,000 and 8% earn even more.

Moreover, when a staggering 90% of all online teachers said they would consider making online teaching their main source of income once the pandemic is under control and if the demand exists, it is clearly a sign that e-learning is an industry everyone should take seriously.

At the end of the line

Like these reports on live broadcast and Online learning show, the demand for real-time digital entertainment and online courses has grown more than expected during the first part of this year and both hold a promising future for those currently on board, as well as those seeking to launch a new, more flexible career path.

Previous First Indian Kia Seltos w / Rear Seat Entertainment [Video]
Next Digital entertainment company POPS bursts into Indonesia with Zico Batin at the helm