Magazine readership among the wealthiest US consumers dropped 16 per cent in the past year as they spent 12 per cent more time online, says the annual Ipsos Mendelsohn Affluent Survey.
Purchases of e-readers and tablet computers by the group have simultaneously increased sharply.
The survey's respondents - numbering 13,804 this year - are heads of households making at least $100,000 annually.
Although magazine readership had declined modestly in previous years' surveys, this is the first double-digit decline, said Bob Shullman, president of the media research group.
Shullman believes much of the shift comes partly from traditional media stepping up efforts to drive people to their websites, reports Advertising Age.
There are an estimated 44 million affluent consumers in the US, who according to Shullman, "drive the US economy". They represent 21 per cent of American households, but hold 60 per cent of total income and 70 per cent of consumer wealth, reports the Financial Times, citing Ipsos Mendelsohn.