The research, commissioned by the professional services firm KPMG Media and Entertainment Barometer, has revealed that consumer spending on traditional media -- newspapers and magazines -- has dropped 20 per cent in the last six months, while spending on digital media has halved because consumers increasingly expect free access to media.
Only 10 per cent of people who do not currently have a subscription to a media product said they are likely to become a paid subscriber over the next 12 months. About 30 per cent of the respondents said they were less prepared to pay for TV and 31 per cent said so about paying for online newspapers or magazines.
The average monthly consumption of traditional media rose from 11 hrs 40 minutes in September last year to 12 hours 13 minutes in March this year. However, the time spent consuming digital media increased from 6 hours 14 minutes to 7 hours 28 minutes during this period.
The average spending per UK consumer on traditional media fell from £9.19 in September 2009 to £7.46 in March 2010, while the spending on digital media dropped from £1.99 to £0.98.
Online social networking and blogging remain the most popular pastime with half of the respondents. The usage of these sites by the 45 to 54 year old demographic has increased from 37 to 45 per cent.