The Boston Consulting group recently found that U.S. consumers obtain more value (excluding associated costs) from online media than offline media. The trend shows no signs of stopping and may have massive consequences for media producers and retailers.
Online Media Figures
The report takes seven media categories into account—books, radio/music, newspapers/magazines, TV/movies, video games, international newspapers/magazines, and user-generated content/social networks. It would seem that online media has gained enough traction to command a premium in the marketplace. Here are a few highlights of the study:
- In calculating “consumer surplus” (perceived value – price paid), online media consumers averaged $967 per connected consumer vs. an average of $904 for offline consumers.
- 46% of respondents currently own three to five devices, and 30% expect to own six or more in three years.
- Adding more devices appears to lead to higher perceived value of media: annual online media consumer value per connected consumer jumps 41% when comparing users with one device ($667) and two devices ($942).
[with credit to Valerie Maltoni’s article]