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The number of Brits willing to pay to stream TV online surges

30% would now fork out to watch TV on the web

The number of Brits willing to pay for online video streaming services such as the BBC iPlayer has surged, says KPMG.

According to the audit and taxation firm firm's latest Media & Entertainment Barometer, 64 percent of those surveyed said they'd pay to watch films on the web, up from 60 percent in March last year. Furthermore, nearly a third (30 percent) said they'd also fork out to stream TV shows online, which is an increase on 28 percent in March 2011.

"Judging by our survey it seems that new entrants into the UK market have got their timing right," said David Elms, head of media at KPMG comments:

"The foundations for online streaming services to be successful appear to be set. Not only is awareness and usage of streaming high, but willingness to pay for content has increased too."

However elms said the reduction in the cost of set-top boxes could become a barrier when it comes to uptake of online streaming services.

"By the end of 2012, everyone in the UK will have digital terrestrial TV, with the choice of between 20 and 30 channels. That's a lot of free TV. It is possible that the majority of TV households don't actually need anything more."

The survey also highlighted online newspapers and magazines as well as digital books are becoming increasingly popular, a trend that KPMG said appears to be driven by the expanding tablet and eReader market.

More than half (55 percent) said they had read online newspapers in the last month, up on 40 percent six months ago while 14 percent have read digital books. Furthermore, the average spend on smartphone and tablet apps is increasing, with eBooks taking up the largest share. The average spend on smartphone apps per month is £6.97 up from £5.65 six months ago, while on average Brits spend £10.79 on tablet apps each month, compared to £8.87 six months ago.

"We continue to see mobile media as an attractive means to monetise content, given the continuing rise in the uptake of smartphones, tablets and eReaders. While consumers continue to embrace new media at a rapid pace, a 'mixed ecology' persists, with a majority still enjoying traditional media such as reading books or watching TV," Elms added.

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