29% of Millennials never read print newspapers
In their survey of more than 1,000 adults across the U.S., Retale found, perhaps unsurprisingly, that Millennials aren’t apt to pay for newspaper content either online or in print. Just 19% of Millennials said they had paid for newspaper content in the 30 days leading up to the survey, lower than other age groups. Within the same time period, a quarter (24%) of those aged between 35-54 had paid for newspaper content, as had a third (34%) of those over 55.
In terms of printed newspapers, half of all age groups said they were unwilling to pay, with Millennials the least willing. When Millennials were asked when they had last read a print newspaper 29% said they had never done so.
According to Retale’s President, Pat Dermody, Millennials are “a digital-first audience”.
“They’re not consuming print newspaper content in the same way as previous generations,” she added. “For the industry to adapt, they’ll have to be creative and consider new digital formats to support readership and drive revenue.”
However, respondents were even more negative when it came to their willingness to pay for digital news formats. More than two-thirds of all respondents said they were unwilling to pay.
Among those who prefer to get their news via digital channels the top reason for doing so was cost (85%) followed by convenience (59%) and up-to-date content (39%). Among those who prefer print their top reason for this format was familiarity (49%), a lack of distraction (37%), convenience (36%) and a “perceived credibility of the content” (27%).
Further key findings from the survey include:
– 49% of 35-54 year old and 47% of those over 55 are unwilling to pay for print newspaper content;
– The pay-per-issue payment option was the most popular among Millennials and older generations alike;
– Mobile is the preferred format for digital newspapers among Millennials;
– Larger screen devices such as desktops were the preferred format for digital news among those age 35 and over;
– 72% of those age 35 and over were not prepared to pay for digital news content from established newspapers compared with 58% of Millennials.
