Web Use Overtakes Newspapers and Magazines

Excerpts from the Financial Times (link here)…

The time European consumers spend online has, for the first time, overtaken the hours they devote to newspapers and magazines, a study revealed…

Print consumption has re-mained static at three hours a week in the past two years, as time spent online has doubled from two to four hours…

“The fact that internet consumption has passed print consumption is an important landmark for the establishment of the internet in Europe,” said Mark Mulligan, research director at Jupiter. “This shift in the balance of power will increasingly shape content distribution strategies, advertising spend allocation and communication strategies.”

By far most of the time Europeans spent online was devoted to e-mail and search activities. Entertainment content such as music and video still accounted for only 22 per cent of online activity.

The research found “a very clear new media/old media generational divide”, Mr Mulligan said. Under-25s now spend six hours a week online, half the time they spend watching television but three times the hours they devote to print… Their habits are going to change the face of the web as they become more mainstream,” Mr Mulligan said.

Our Take On This Story

Hey… no wonder the Nation Newspaper wants to take themselves public! They need the cash to tool up for the new media. No fools they…

Profits for stockholders? Just don’t ask – it’s going to be a while…

1 Comment

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One response to “Web Use Overtakes Newspapers and Magazines

  1. God Bless David

    Heard that part of the reason the Nation is going public is that they are thinking about getting into a joint venture with an extra-regional investor who is seeking a licence to establish a telecommunications network in Barbados and some of the other islands in the region. The public offering will help to finance this venture, which will be pretty pricey…kudos to the Nation for taking risks…

    Not like the Advocate, who in my mind have done nothing (at least in the last 30 years) to disprove the famous sobriquet uttered by the late Errol Barrow in a parliamentary debate in the early eighties…”the worst newspaper in the English language”…and he was a well read gent…