The majority of consumers have access to the internet, whether that is via mobile devices, at home, or at work. Improving access and connectivity sees consumers spending more time online than ever before, but what cost does this come with?
There will always be an economic cost of accessing the internet, but it is also worth questioning the more philosophical cost of potential and social opportunities missed.
Economic Costs
The economic cost of your time online is a more tangible concept, with empirical data giving us a general idea of the monetary costs involved.
Online Spend
Factoring in what is spent online during a session can make a massive difference to how much someone thinks online activities cost, with shopping sprees being one of the easiest ways to rack up costs.
However, things aren’t always that simple when you consider that they might be making savings on essentials that they would have to buy anyway. Another way to complicate this further is when you consider online gambling, with the amount being spent often being offset by the amount that is won.
The growing number of real money casinos UK consumers have access to has resulted in a competitive market that is friendly towards the consumer. Operators vie for new customers by offering the best selection of new games and welcome bonuses that stand out from competitors.
Many sites now also offer a way for customers to monitor their spending and winnings, making it easier for them to budget and judge performance.
Access Cost
Assessing what is spent online is one way of considering the cost of online sessions, while access costs must also be considered. Broadband and energy costs for online access at home should not amount to much for each visit, but will be an ongoing expense.
Broadband costs vary by provider, and the package being used will also have different price points, with high-speed fibre broadband being more expensive than standard connections.
Similarly, internet access via smartphones while on the move will use mobile data, which is either factored into an existing contract or added as a bolt-on. These costs will vary, with most mobile phone contracts also factoring in the cost of the device, calls, and messaging.
As well as the cost of accessing the internet, users should also factor in the cost of subscriptions. Web browsing standard websites typically offers free access, and a lot of mobile games also have free versions for people to enjoy. However, premium gaming that removes ads and gives players greater access will typically come at a cost, with one-off fees and subscriptions available.
Similarly, consumers can stream and enjoy content for free from sites like the BBC iPlayer and Spotify, or pay for premium subscriptions. A premium Spotify account removes adverts and, depending on the package, grants access to additional content.
Sites like Netflix provide a way for users to enjoy TV shows and movies at home and on the move, and the cost of these should also be considered if we are thinking about the expense of online access.
Cost of Opportunity
Another way to look at things is the cost of opportunity when online, compared with what you could be earning by working. This can be translated relatively easily by comparing your hourly rate against the time spent online.
You can also consider the adverts you are exposed to when online, and the data you provide to websites when considering the lost cost of opportunities. Platforms earn money for every ad watched, and can sell consumer data, allowing them to profit from the user’s activity.
However, there are ways for users to profit from their online activities, with social media platforms providing creator earning models or through affiliate marketing. While websites make the most of these opportunities to earn money and allow them to offer free content to users, users can also start making the most of them.
Social Cost
The social cost of online access is a more difficult concept to explore, with older attitudes towards screen time being challenged by greater social capabilities. Of course, the idea of a mindless society glued to its phone screens is a caricature of modern society, but it is a concern that people are more interested in spending time online than with their families and friends.
The flip side of this argument is that social platforms and social connections made through gaming platforms have improved social interactions for people who might struggle with face-to-face contact or who live in remote areas.
The concept of the “cost” of online activity is too nuanced to be accurately identified, with actual monetary costs typically divided over a variety of platforms and subscriptions, while the cost of potential is also difficult to read, with some users laying the groundwork for potentially profitable future enterprises.
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