The digital revolution has been taking off in Australia, with people spending more on their mobile devices and in the internet, according to the latest data from the Australian Bureau of Statistics.
The number of people in Australia with digital devices has nearly doubled to 3.4 million in the year to June, compared with 1.6 million the year before.
This growth is mostly driven by people who are more likely to be young, single and female, with almost 60 per cent of all Australians using their devices for some sort of digital activity.
But even the more tech-savvy demographic, such as those with computers and mobile phones, is still spending more, according a recent report by the Australia Institute.
A total of 3.2 million Australians are now using their smartphones and tablets for online shopping, with about a quarter of them buying goods on Amazon or eBay.
A quarter of Australian households are now buying online, with over half buying digital content and the vast majority buying digital media.
Digital spending rose by 2.5 per cent in the first quarter of this year, the highest rate since 2011, according the Australian Broadcasting Corporation.
In the year ending June 30, digital spending rose 4.3 per cent to $8.2 billion.
A report published last week by the Australian Media and Entertainment Association and the Australian Retailers Association also showed that digital spending was up more than 20 per cent this year compared with last year, and is projected to rise another 6.5 to 7 per cent next year.
The ANU’s head of media and entertainment David Gifford said digital spending would grow more slowly than the industry’s overall spending in the next two years because of the economic slowdown.
“There’s not a lot of momentum in the economy.
The [internet] market is slowing down,” he said.
“There’s a lot more uncertainty around the [internet].
But digital revenue is expected to grow more rapidly in Australia than any other major economy, the ANU said. “
What is going to happen to our business models, our businesses?”
But digital revenue is expected to grow more rapidly in Australia than any other major economy, the ANU said.
The research showed Australians spent more than $3 billion on digital media in the 12 months to June 30.
But the number of Australians with digital media is set to grow faster than any major economy this year.
That’s partly because Australians spend more on mobile devices than the rest of the world, which is growing at 7.1 per cent a year, compared to 5.7 per cent for the US and 3.5 for Europe.
Australia’s digital growth is a stark contrast to other parts of the globe.
Digital sales in the US, for example, grew by almost 6 per cent last year.
Digital content revenue grew at 5.2 per cent worldwide, but only 4 per cent was from digital.
Australia will likely see growth of about 8 per cent, or nearly $1 billion a year in digital revenue, the report said.
That would be the fastest growth rate in the world.
The biggest digital spending comes from people who buy content through apps such as Netflix, YouTube and Amazon Prime Video, which make money from advertisements that appear in the content.