The value of giving UK internet users control over how Facebook and Google use their data is £1.1 billion per year
The research by Accent and PJM Economics for Which? shows that UK internet users would be prepared to pay a combined £1.1 billion per year to Facebook and Google in return for greater control over how their personal data is collected and used.
The innovative research calculated the value consumers would put on being able to block targeted ads entirely, or the alternative of receiving a reward for seeing them.
The research also found that whereas many are concerned about sharing their personal data, many other consumers are open to seeing targeted adverts – particularly if they come with the offer of a payment or other financial incentive.
In the absence of any financial incentive, only 27% of Google and Facebook users said they would prefer to receive targeted adverts. However, when a financial incentive was added, that figure went up to 81%.
Unsurprisingly, the survey found that the larger the financial reward, the more likely consumers were to choose targeted adverts.
Follow this link for the Which? press release
Follow this link for the full report: