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31 January 2008 Traditional media sales still thrivingNewspapers and magazines are still clocking up healthy sales, according to the latest statistics, despite widespread industry expectation that print media is in decline.
The latest Family Spending Survey reveals that the Brits fork out £76m on newspapers and magazines every week, the equivalent of £1.37 weekly spend per person or £2 per household on newspapers and £1 per week on magazines.
The current £3 per week expenditure is up on the 2001/2 average of £2.90, although it has decreased slightly since hitting the £3.10 figure in 2003/4 and 2004/5.
The news eases fears that the traditional media would eventually die out, to be replaced by news exclusively delivered in cyberspace.
However, Britons spend a significantly smaller proportion of their hard-earned cash on publications than they did at the time of the first survey in 1957.
Back then, books, magazines and newspapers represented 1.6% of the household spending. But the figure has now dropped to just 0.65%, with TV subscription charges and take-aways swallowing up more of the weekly budget.
The biggest earners also tend to spend the most on newspapers and magazines, at a weekly average of £4.20. By contrast, the 10% of Brits on the lowest pay spend a mere £1.80 per week.
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