Young people behind surge in online music sales

A new Nielsen//NetRatings report has revealed that young people are the biggest spenders when it comes to online content, with the 16-24 year old age group leading the way.

Overall, UK internet users currently spend an average of £3 a month on downloading content, with videos taking 43% of the market.

Key findings of the report included:

• The average British internet user currently spends £3 a month on streaming or downloading audio and video content from the internet.
  
• Men spend 40% more than women – averaging £3.58 to women’s £2.57 (£43 vs. £31 per year).
  
• The biggest spenders are 16-24 year olds – they average £5.34 per month (£64 per year).

The video download market was responsible for 43% of online spend, and two-thirds of Britons have now watched online video content. Movies were the most popular download, followed by comedy and music.

Alex Burmaster of Nielsen//Netratings believes the figures show that surfers are prepared to pay for music and video content:

“It represents an encouraging shift in the willingness of consumers to pay for online content that has mainly been available for free in the past.

"It took a while for consumers to come round to the idea of paying for audio content online but in a relatively short space of time, they’re already digging into their pockets for video content.”

Further Reading:
Internet Statistics Compendium - November 2006  

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