Consumers willing to pay for online news
A new study has found that global consumers are willing to pay for news – especially from online national and local newspapers – on their personal computers and mobile devices.
Boston Consulting Group surveyed 5,083 respondents from nine countries: the US (1,006 respondents), Germany (1,006), Australia (529), France (510), the UK (506), Spain (505), Italy (504), Norway (259), and Finland (258).
The survey found that the amount people are willing to pay depends upon the country they live in and on the type of content that they deem most valuable. The average monthly amount consumers are prepared to pay ranges from $3 in the US and Australia to $7 in Italy.
In keeping with other recent research, the findings show that consumers are more likely to pay for news content that is unique, specialized, timely and convenient:
- 67% of overall respondents and 72% of US respondents are willing to pay for unique content, such as local news
- 63% overall respondents and 73% of US respondents are willing to pay for specialized coverage
- 54% of overall respondents and 61% of US respondents are interested in timely news content, such as a continual news alert service
- A high percentage of both overall and US respondents are willing to pay for conveniently accessible content on a device of choice.
John Rose, a BCG senior partner, said: “The good news is that, contrary to conventional wisdom, consumers are willing to pay for meaningful content.
“The bad news is that they are not willing to pay much.”
A recent study from Opinion Research Corporation revealed that Americans are increasingly turning to online and radio sources for news and information, while relying less on daily newspapers.
In the second year of a media use and credibility survey, daily newspaper usage dropped 4.1% and television usage dropped 3.6%, while radio usage increased 2.9% and online usage increased 1.9%.