Mary Meeker presented her annual internet report at Recode‘s Code Conference on Wednesday, providing insight into the trends that shape our industry today. This in-depth breakdown explores the evolution of marketing from technology to entertainment, social media to video games and everything in-between.

Highlights from the 355-page slide presentation include picture searches, the slowing of smartphone shipments worldwide and how Netflix rose from a rental service to earning 30 percent of home entertainment revenue in the US.

Digital Age, By Age

You’d think that teenagers would be spending the most time with digital media, but that statistic actually belongs to consumers aged 35-49, with an average of five hours and 19 minutes each day. US consumers 65 and older consume the most time with analog media, at an average of nine hours and nine minutes. Consumers aged 18-24 divide their time between analog and digital almost in half—four hours and 35 minutes for analog and four hours, 27 minutes for digital content.

Digital media consumption is on the rise, although analog media is still consuming the most time for US consumers. (Analog includes live/DVR/time-shifted TV, AM/FM radio, DVD/Blu-ray and game consoles.) In the fourth quarter of 2016, audiences spent an average of seven hours and 16 minutes consuming analog media, compared to four hours and 14 minutes digitally.

Gaming In China

Online gaming leaders like Tencent and Netease are driving mobile innovation and revenue in China, Meeker noted. China became the number one market for interactive game revenue in 2016 and is expected to increase its lead over the US in 2017. Online gaming monetization in the country far outpaces TV in terms of hourly revenue. Chinese consumers are increasingly willing to pay for entertainment, especially in terms of online gaming, livestreaming and video.

Ad Timing Is Everything

Ad inefficiency is increasingly exposed by data, but algorithms are helping marketers get their ads in the right place at the right time. Adwords is big business for Google—helping the company achieve $679 billion market capitalization as of February 2017. While Google Adwords is based on user-entered keywords, Snapchat is benefiting from user-uploaded images, launching the company to a $25 billion capitalization.

Pinterest, meanwhile, considers itself to be an image-based search engine and could change the way consumers discover products. Currently in beta, Pinterest Lens is integrated into the user’s camera so they can use it anywhere—a quick snap of something inspiring quickly identifies food, clothing, furniture and more then offers up recipes, design ideas or similar pins.