According to a recent report, consumers living on the old continent have quite similar attitudes towards online and offline media, but giving a slightly higher priority to digital content both in terms of usage and value.
The report from the Boston Consulting Group, titled ‘Follow The Surplus: European Consumers Embrace Online Media’, looks into media consumption trends in nine European countries between November 2012 and January 2013. The researcher has established that about 40% to 60% of the perceived value consumers get from media, excluding related costs, is generated from online media.
In an increasing number of categories and markets, the ‘consumer surplus’ from online media is now wider than that from offline, the researcher said. Boston Consulting has estimated that consumer surplus, which is calculated by analysing the difference between what people are willing to pay for goods or services relative to its market price, was around EUR2,100 on average.
The researcher said that Europeans are starting to consume more media through a large number of connected devices such as smartphones, tablets and Internet-enabled TVs. In addition, the launch of high-speed data networks is set to further accelerate consumers’ shift towards online media consumption in the coming years.
In six of the countries analysed, the online surplus was more than 50% of the total figure, with the Czech Republic and Italy recording the largest proportions, 63% and 60% respectively. In the UK, France and Germany, online media constituted less than 50% of the total surplus, at 47%, 42% and 39%, respectively, Warc reported.