Demand for e-books hits new heights
THE booming demand for smartphones and tablets is fuelling an explosion in the consumption of paid-for online media.
The biggest growth area is e-books, with the number of consumers doubling and the average monthly spend rising to almost the level of digital music, according to a new study by KPMG.
Smartphone ownership has jumped by a third in the last six months to hit 36 per cent, with a quarter of them paying to access content such as apps, e-books and music.
Tablet ownership – essentially new to the UK market in July 2010 – has more than doubled from two per cent to five per cent since December. However, in the commercially important18-24 per cent age bracket this number jumped to 54 per cent. Tablet owners are also far more likely to shell out for content than those using smartphones, with 64 per cent paying for content. The average spend was also higher for tablet users, averaging £8.87 a month, compared to £5.65 for those with a smartphone.
Despite the meteoric rise in new media, television remains the most popular form of entertainment, while radio and print continued to decline.
David Elms, head of media at KPMG in the UK, said: “Our survey clearly shows there is an appetite for paid for on the move content. The proliferation of apps and devices is driving expenditure online at a faster pace than fixed-line computers.
“This represents a significant opportunity for media companies to monetise online content and develop new media business models in pace with consumer demands.
“There is a mixed ecology between traditional and new media, with no silver bullet that will fit all company business models.”