Does affluence affect media consumption in the Asia-Pacific?

High-powered, corporate individuals will often be under the strictest time pressures. Consequently, the trends of how they consume media can present unique insights.

While keeping track of the wealthy may seem relatively fruitless in comparison with the mass market, their status is likely to make them bigger influencers, in part due to the fact that they have more disposable income.

Influence and prosperity

In the Asia-Pacific, the business centres of Hong Kong and Singapore have risen up to become two of the most influential and prosperous cities anywhere across the globe. In fact, the former has the eighth highest number of billionaires in its midst, according to the Wealth-X and UBS Billionaire Census, as reported by The Diplomat.

The most affluent people consume around 5.7 hours worth of media per day.

So, while there can be little denying that capital is flowing around the Asia-Pacific, just how are the region's most affluent consuming media? Well, some of their habits are incredibly similar to those of the wider populous.

For example, the most affluent people are not shying away from content and consume around 5.7 hours of media per day, according to statistics collated by market research company Ipsos.

Its Affluent Asia annual survey takes in the habits of over 18,000 wealthy individuals from across the Asia-Pacific, with close to 10 per cent of those included based in Hong Kong.

Traditional media wins out

While mobility is growing in importance, the traditional mediums still need to be respected. Television jumped in popularity, with 66 per cent of affluent Asians regularly engaging with content in that format.

Moreover, newspapers have grown in prevalence as a primary source of information, with a boost in readership from 32 to 42 per cent over the course of 2014. This evidence suggests that counting out traditional platforms from any media monitoring efforts across the Asia-Pacific would be unwise for the time being at least.

Hong Kong goes mobile

As noted, much of the Ipsos findings is centred on Hong Kong. In fact, while the country also experienced positive trends for traditional media, it is turning to mobile more quickly than most.

Close to half (45.8 per cent) of the most affluent people in Hong Kong use mobile platforms to access financial and business news content. While this slightly lags behind newspapers, mobile is set to continue to take hold.

The most affluent individuals across the Asia-Pacific rely on traditional platforms for their media consumption.

While the habits of the wealthiest people across the Asia-Pacific may seem inconsequential to most, they will be of benefit to any company looking to promote its brand to those with a swathe of disposable income. 

Organisations that do so on traditional media, despite the rapidly evolving technology habits of the region, will likely produce the best results.

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