Business execs spend more time online but say national newspapers are the most reliable business news medium: new Ipsos survey
22 February, 2010
The number of senior business executives in Australia reading newspapers has remained constant over the past four years despite the substantial internet growth as a medium for news, according to the latest Ipsos AUSBRS2010 Business Elite Survey.
Even though Australia's business executives are spending more than double the amount of time each business day on the internet (excluding email) (65 minutes) compared with newspapers (30 minutes) they believe national newspapers are a more reliable source of business and finance news.
After the internet, executives are spending the most time, 48 minutes, watching commercial TV followed by ABC TV at 30 minutes daily and commercial radio averaging 31 minutes.
The Ipsos AUSBRS 2010 surveyed around 2,000 senior business executives from Australia's largest and most successful companies. This is the fifth such survey and provides insights into their media consumption and, in doing so, also examined who these high level business executives are.
Ipsos MediaCT Managing Director Mark Grunert said: "The Australian Financial Review continues to be the most read publication with 51 per cent of all senior business executives reading it. The Australian newspaper achieved a readership of 28 per cent of senior business executives."
Ipsos MediaCT has introduced a Reader Engagement Index for leading publications in the AUSBRS Business Elite Survey.
Mark Grunert said: "Ipsos responded to calls by publishers to introduce reader engagement metrics to the AUSBRS survey. We believe it's the first time a syndicated readership survey has offered these types of metrics to both publishers and media buyers.
"The Index is based on five metrics that measure how committed and involved business executives are with a particular publication. For example, if we look at business executives on a national basis the Reader Engagement Index indicates the top five publications were The Australian Financial Review, AFR magazine, BRW and The Australian. However, if we were to look at another demographic group or a specific geographic area the index would indicate a different group of publications."
The Ipsos survey found that the most visited general news and business news media web site was smh.com.au which 32 per cent of executives visited in the past month. Interestingly, one third of all visitors to the Sydney Morning Herald web site reside outside of New South Wales. theage.com.au was the second most popular business media web site followed by theaustralian.news.com.au and afr.com.au.
The survey also highlighted that magazines, newspapers and internet have high penetration amongst executives with 92 per cent reading weekly publications, 87 per daily newspapers, 83 per cent monthly magazines and 73 per cent visiting websites.
Even when up in the air, 46 per cent of senior business executives find time to read Qantas The Australian Way or 16 per cent watch Qantas in-flight TV.
More than a third of all senior business executives claim to have watched Sky News in the past week. This is the highest audience figure for a business and news TV channel and compares to 15 per cent watching CNN and seven per cent CNBC.
The survey asked executives to define the two biggest challenges facing Australian companies today. A third (33.7 per cent) said "attracting and keeping suitable staff" whereas only nine per cent answered "global financial crisis."
Grunert added: "The results show that Australia's senior executives have not experienced the tough economic conditions that their overseas counter parts have."
For further information contact:
Mark Grunert
T: 02 9900 5140
E: mark.grunert@ipsos.com
About Ipsos
Ipsos Australia is part of Ipsos worldwide, one of the world's leading survey-based marketing research firms listed on the French stock exchange. Founded and run by market research professionals, Ipsos interprets, simulates, and anticipates the needs and reactions of consumers, customers and citizens – locally, nationally and around the world. Ipsos has a direct presence in more than 50 countries globally and conducts research in more than 100.