Digital Magazine usage is growing with people who have adopted tablets into their lifestyle. Recently a survey polled 1,293 people on how they have incorporated digital magazines into their daily reading habits. 26% of the respondents prefer reading on their tablets, rather than the printed page.
One of the most interesting aspects of the results was the fact that tablet owners tend to spend more. This is partly attributed to the higher population of users who have purchased the iPad. 62% of all respondents own an Apple branded device, while 26% use the Kindle Fire. 47% of tablet owners have spent between $1 and $99 in the last 12 months, but 39% have spent $100 or more. Given the current subscription cost of a yearly subscription, most people are subscribing to 2 or 3 different magazines a month. In essence, they are saving money by reading more on a tablet, rather than buying it from a magazine or book store.
At the same rate of growth, Mequoda predicts the number of digital magazine subscribers will rise dramatically to 77% by 2020, as the industry embraces digital and the prices of the hardware decrease further.