JUPITERMEDIA'S JUPITER RESEARCH REPORTS THAT OVER 44% OF U.S. HOUSEHOLDS WILL BE VIEWING BILLS ONLINE BY 2006
50 Million Households Expected to View Bills in 2006 (New York, NY - October 14, 2002) - Jupiter Research, a division of Jupitermedia Corporation (Nasdaq: JUPM) (formerly INT Media Group, Inc.), today reported that online bill viewing and payment will be among the fastest growing consumer applications over the next three years. By 2006, more than 50 million households will view bills online and 52 million households will pay at least one bill online. This represents a compound annual growth rate (CAGR) of 23% over 2001's figure of 18 million U.S. households who viewed at least one bill online.
The Jupiter Research report titled, "Payments & Transactions: Online Bill Viewing & Payment Forecast, 2001 - 2006," finds that in 2001, consumers viewed 643 million bills online, representing 6% of total U.S. consumer bills. This figure will grow at a compound annual growth rate (CAGR) of 41% to 3.5 billion bills in 2006, accounting for 32% of all U.S. consumer bills.
"Firms that issue simple bills should discard the notion of attracting consumers to their Web sites for marketing opportunities; instead, they should invest based on the cost savings they will derive from working with bill aggregators and, over time, eliminating paper statements," said Rob Leathern, Jupiter Research Senior Analyst. "As banks become the natural hubs for consumers' future aggregated bill viewing, they must build out their online servicing capabilities and create value-added applications to cement customer loyalty."
Existing Financial Relationships Lead to Aggregated Bill Viewing
Online Bill Viewing will Reach 44% of U.S. Households by 2006
"Early consumer adopters of online billing are likely already a company's best customers," says Leathern. "As more customers become experienced using the Internet, the increased demand for the convenience of online billing will make a robust online billing offering a cost of doing business."
Additional highlights and forward-looking analysis from "Payments & Transactions: Online Bill Viewing & Payment Forecast, 2001 - 2006" include:
Jupiter Research Payment & Transactions Report Methodology
About Jupitermedia Corporation
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects including, for example, the competitive environment in which Jupitermedia Corporation competes; the unpredictability of Jupitermedia Corporation's future revenues, expenses, cash flows and stock price; Jupitermedia Corporation's ability to integrate acquired businesses, products and personnel into its existing businesses; Jupitermedia Corporation's investments in international and venture fund investments; any material change in Jupitermedia Corporation's intellectual property rights and continued growth and acceptance of the Internet and information technology. For a more detailed discussion of such risks and uncertainties, refer to Jupitermedia Corporation's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and Jupitermedia Corporation assumes no obligation to update the forward-looking statements after the date hereof.
For information contact:
All current Jupiter Research press releases can be found online at www.internet.com/corporate/press.html.
All current Jupitermedia Corporation press releases can be found on the World Wide Web at http://www.internet.com/corporate/press.html.