Good news for entrepreneurs trying to serve Generation Z: Kids are already spending a ton of money on gaming.
In fact, in 2013, U.S. kids age 6 through 12 generated more than $2 billion in gaming revenue, according to a new study from consumer market research company Interpret. The research was done on behalf of the Digital Kids Summit, an event dedicated to brand owners, game developers, marketers, producers, and other professionals seeking to engage children online and through digital devices.
Over 12.8 million children in the United States own at least one smart toy, according to the findings, and on average, kids spend 12.1 hours per week gaming. They spend 3.2 hours of that time gaming on smartphones or tablets, findings showed.
The study also found that the average parent of a U.S. gamer age 6 to 12 spends $29.40 per month on games for his or her kids, including $2.60 per month on mobile gaming apps or mobile in-game items. And according to data from market research company YouthBeat, 83 percent of kids ages 6 to 13 say they use and download apps, and 71 percent of parents download apps for their children. [7 Free Apps to Make Your Smartphone Smarter ]
And kids also spend a lot of time on the Internet. On an average weekday, they spend 1.3 hours per day online , 1.9 hours per day on the weekend, according to YouthBeat.
As far as devices are concerned, 32 percent of 6- to 13-year-olds own a tablet; 30 percent own a cell phone, and 20 percent own a smartphone. They get two hours of 'screen time' per day, on average.
The Digital Kids Summit will take place Oct. 21-22 in San Francisco. Along with other speakers, representatives from Interpret and YouthBeat will present more information on kids and their digital habits. If you're interested in attending, you can register on the organization's website.
Originally published on Business News Daily