In our previous post, we talked about Nielsen’s new survey about the services that internet speed makes available to us and whether we’d be willing to pay for them. But does age factor into a willingness to pay?
It turns out, it does.
Of those who are already paying for content or would be willing to do so, people under 20 are10-15% more likely to spend money than those between 40 and 44. And the ones who are least likely to be willing to pay are the over 65 year olds.
Nielsen explains, “the younger the consumers the more apt they are to have already paid, or be willing to pay, for various types of content. This may seem counterintuitive considering that many so-called ‘digital natives’ know how to end-run pay sites and have done so in the past. But it reflects a realization that they are now in a world where the value of content is platform-agnostic; and video consumed online may be no less valuable than watched on television.â€
Translation: older people are unfamiliar with online content and therefore can easily live without it. Whereas younger people see the value in getting information and entertainment delivered online, and are growing with the technology.Â
The age gap is most visible when you look at one type of content–the Under 20 crowd is far more likely to pay for games online than people over 40. Otherwise, all age groups agree that theatrical movies, music and games are the top three things worth paying for. Professionally produced video, and magazines got over 50% approval and newspapers are the next to be deemed worthy. And all age groups also agree that most blogs are the least worth paying for, though 10% of those 65 and older are still willing.
Tags: Internet Speed