[Asia Economy Reporter Ji Yeon-jin] During the COVID-19 pandemic, the time spent at home increased, leading to a surge in subscriptions to various digital services; however, recent trends show a reduction in digital activities.
According to the 'EY Digital Home Perception Survey' published on the 24th by global accounting consulting firm EY Hanyoung (CEO Park Yong-geun), 34% of global respondents answered that they "plan to reduce the time spent consuming online content."
While 4 out of 10 households worldwide reported an increased need for internet and TV streaming services during the pandemic, 27% said they plan to reduce the number of subscriptions to music and video streaming services.
More than half of the households expressed concerns about price increases from internet (60%) and TV service providers (55%), and 45% believed they are paying excessive fees for content they do not use. Notably, 33% of surveyed households found telecommunication services difficult to understand, and 38% said they could hardly distinguish differences between services offered by internet service providers.
It was found that 1 in 5 households owns voice recognition digital assistant devices, with 17% using AI speakers, 13% smart lighting, and 10% smart security systems. However, 21% of households said they plan to reduce the number of smart home devices, citing concerns over hacking of smart homes (63%) and compatibility issues between smart home products from different manufacturers (43%).
According to the survey, 40% of households reported increased concerns about personal information breaches compared to before the pandemic. Additionally, fatigue from online information exposure and mental health issues were particularly prominent among younger generations. Among respondents aged 25 and under, 47% felt that internet use negatively affected their mental health. Similarly, 47% of those aged 25 to 44 expressed concerns about family members being exposed to harmful online content. Overall, 59% of respondents insisted that governments and regulatory agencies should take measures to block harmful information and prevent damage caused by such content.
Kim Jung-wook, CEO of EY Consulting, emphasized, "In today's era of hyperinflation, digital usage is observed to be stagnating or even decreasing. As consumers try to cut household expenses by canceling various digital service subscriptions they signed up for during the pandemic, internet service providers and content providers (CPs) need to reorganize their strategies to offer improved service quality, personalized services, and long-term value to avoid losing customers."
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