> I don't consume content, as if it were used up after I watch it once.
You may be in a minority here, many people I know (like my wife) very rarely will go back to something when they're done with it. Most people are on the lookout for something new to keep them entertained, so I would definitely argue that they are in fact consuming media.
There is still something to be said of the cost of basics has increased by an order of magnitude. I would argue that today's 30 year olds certainly have access to more options that simply didn't exist in the 50s or at least weren't commonplace, hence more things to spend one's pay on, but it would be near impossible to raise a family of four modestly on a middle class wage in most American cities/suburbs.
You may be in a minority here, many people I know (like my wife) very rarely will go back to something when they're done with it. Most people are on the lookout for something new to keep them entertained, so I would definitely argue that they are in fact consuming media.