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UK consumers "prepared to pay for good online content"

Media companies need to ensure that they have pricing strategies in place when selling content via various media platforms.

This is according to David Elms, head of content at KPMG, who said that UK consumers are beginning to acknowledge that good online content will come at a price.

KPMG's latest Media & Entertainment Barometer, which examines trends and consumers' sentiment towards new and traditional media, shows that media consumption in many areas levelled off or slightly decreased, while money spend is increasing across almost all categories of traditional and new media formats.

Elms said, "The results clearly show that UK consumers are making more conscious decisions about what type of media they choose and how much they spend on it.

"Contrary to popular perception, they are also prepared to spend more money, especially for digital content.

"The results prove that media firms are already changing habits and persuading consumers that content is worth paying for."

However, the report revealed that spending on traditional media still outweighs new media.

Spend on new media is around £2 per month, which is three times lower than the £6 per month that is currently spent on traditional media.

Most of the digital media spend goes on eBooks and online gaming, but paid apps are growing in popularity and people now spend just over £2 on apps.

The rise is no doubt linked to the increased growth of smartphone and tablet ownership in the UK, as 52 per cent of consumers now own a smartphone, up from 44 per cent, while 20 per cent have a tablet, up from seven per cent.

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