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Illustration: Eniola Odetunde/Axios

Nearly three quarters of adults say they are spending more on entertainment each month, according to a new survey conducted by Wakefield Research on behalf of Dolby.

Why it matters: American consumers are spending more on entertainment content as they try to binge-watch their way through the pandemic, which coincided with a flood of new streaming service options, including HBO Max, Peacock and Disney+. While consolidation is still expected, for now a rising tide is helping keep most boats afloat. (The S.S. Quibi has already sunk.)

By the numbers:

  • Millennials are spending the most, with their average entertainment spending up an average of 38%.
  • Nearly half of those surveyed said they had upgraded at least one of their streaming services to a premium version in the past six months.
  • Upwards of three-quarters of those surveyed (77%) said the news impacts what they watch, with nearly half saying they use entertainment to escape current events.
  • More than two-thirds of U.S. adults (69%) said they plan to purchase new hardware in the next six months to beef up their home entertainment experience, with 54% specifically mentioning living room gear such as a new TV, soundbar or speakers.

Go deeper

Dec 17, 2020 - Health

The U.S. spent $3.8 trillion on health care last year

Data: Centers for Medicare & Medicaid Services; Chart: Axios Visuals

The U.S. spent $3.8 trillion on health care last year, accounting for about 18% of the entire American economy, according to new federal data.

Why it matters: The U.S. has by far the most expensive health care system in the world, and every year it eats up a little more — from the federal government, states, employers and individuals.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."