Key Note estimates that the UK in-home leisure market was worth £39.66bn in 2009, in terms of direct consumer expenditure on goods and services. This figure covers the following sectors: home viewing (television hardware, the Licence Fee and subscriptions), home listening (audio equipment), recorded media, home computing and the Internet (computers and operating software), reading, indoor play, home improvement (DIY materials and gardening goods) and traditional hobbies.
Key Note’s research for this report found that watching television still dominates home-based leisure, involving 97.4% of the adult population every week. Consumers are clearly dividing their time into smaller bursts of activity, since the same survey found that 84.8% of adults read newspapers or magazines, 78.7% listen to the radio, 75% read books and 74.6% listen to recorded music, all on the same weekly basis. Social networking involved 45% of adults by mid-2010, and penetration rose to 95% of the under-20s.
Key Note forecasts little real growth for in-home leisure as a whole over the period from 2010 to 2014, despite the recovery from recession. It is important, therefore, to focus on areas of growth and excitement, such as video games for the family and the ‘e-reader’, which is predicted to be the outstanding leisure ‘gadget’ of 2011. The e-reader sums up the state of in-home leisure: it combines a traditional hobby (book reading is as popular as ever) with new technology in order to maintain interest and excitement.
This Key Note report is available to current London Business staff, students and faculty from Key Note Online which can be found on the A-Z list of library databases within Portal.