A majority of consumers may be willing to pay for online news, according to a new survey. However, they will not give more than a few dollars per month.
Boston Consulting Group just concluded an international study of consumers willingness to pay for news. More than 5000 people in nine countries were polled.
According to the survey, a majority of consumers in most countries responded that they would be willing to pay for online news. The percentage responding positively varied from country to country:
- Finland – 66 %
- Germany – 63 %
- Italy – 62 %
- Norway – 60 %
- Spain – 57 %
- France – 55 %
- Australia – 50 %
- UK – 48 %
- US – 48 %
So far it appears as great news for the media companies. However, consumers are not willing to pay much and they present some very clear conditions for their willingness to pay.
The study revealed that consumers would only pay from between USD 3 per month (US, Australia) to USD 7 (Italy).
Willingness to pay is much higher for content which is unique, timely or presented on a convenient device.
Top of the list for user payment is:
- Local and community specific news – 67 %
- News archives – 63 %
- Special coverage, breaking news, investigative reporting – 63 %
- Personalized online newspaper from different sources – 55 %
- Subject-specific in-depth editorial – 55 %
One interesting piece of information to note is that willingness to pay is much higher for newspaper subscribers than for other groups.
And no, consumers will not pay if they can get the same content for free elsewhere. I suspect that Boston Consulting Group also would have registered very low percentages if consumers had been asked whether they wanted to pay for specific news sites, such as USA Today or Times Online.
Also noted today: A survey from Forrester shows a very different conclusion: 80 % of US consumers won’t pay for online content.
Why so different results? It is all about how they have asked the questions, of course.
More to read about the same topic:
- End The Debate: Go Ahead, Charge For Your Online Content (MediaPost)
- Pay walls never may come at some papers (Reflections from a Newsosaur)
