Peter Kafka

Recent Posts by Peter Kafka

Something You Knew Already: Rich People Trading Magazines for iPads

Are you surprised to hear that people with money are spending less time with magazines and more time with iPads? Nope, you’re not. But here’s a survey that tells you that anyway–the annual annual Ipsos Mendelsohn Affluent Survey, which focuses exclusively on households that make more than $100,000 a year.

Those folks say their magazine consumption has dropped 16 percent in the last year, reports AdAge. But they’re gaga for Apple’s (AAPL) iPad and Amazon’s Kindle (AMZN). And they still love TV:

The Ipsos survey was completed in June, only two months after the launch of Apple’s iPad, but it already shows nearly a million of the nation’s more than 44 million affluent heads of household owned tablet computers and another 2 million owned e-readers.

Another 3.1 million of the affluent said they plan to buy such devices in the next year. That was among factors helping fuel a 16% decline in both the average number of magazine titles and the number of individual issues read annually by affluent heads of household to 5.9 and 13.3, respectively… Average weekly hours of TV viewing, on the other hand, remained essentially unchanged at 17.6 hours.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work