New research(1) from Sainsbury’s Bank home insurance indicates people have lost over two billion pieces of digital media content, such as songs and apps, in the last two years alone. The research suggests that many Brits have lost their content as a result of electronic devices being damaged, lost, or stolen and where the content was not recoverable. The potential value of this content is over £1 billion.
Sainsbury’s Bank is encouraging consumers to ensure their digital content is protected by regularly backing it up, ensuring it can be recovered should anything happen to their device. External hard drives, memory sticks and online cloud storage services are just a few options to consider.
In addition, Sainsbury’s Bank home insurance policies provide cover for the loss of digital information as standard. Sainsbury’s Bank home insurance has two levels of cover, one offering up to £1,000 and the other up to £3,000 for digital content that cannot be recovered because the device was stolen, or damaged due to fire or flood while in the home. The supermarket bank also provides cover for items away from the home under its Personal Possessions cover that customers can add on to their policy.
David Barrett of Sainsbury’s Home Insurance said: “Technology is forever evolving and it has changed the way we store and share our memories and digital entertainment. We’d encourage anyone who uses electronic devices that store music, photos, films or any other form of digital content, to back them up regularly and make use of services that protect their purchases, for example saving duplicates securely online. It is also worth checking your home insurance policy as it may offer an additional layer of protection – some providers, like our home insurance, include digital downloads cover as standard.”
The research reveals that many people have also lost cherished memories as a result of being unable to recover photographs from digital devices. Across Britain, an estimated 759 million photographs have been lost in the last two years.
Over one billion songs have been lost in the last 24 months. Those affected by device loss or failure were unable to recover an average of 995 tracks each. Given that the average price of a track on one of the UK’s leading music downloads websites is £0.79, each of those affected could have lost an estimated £786.05 of content. Across Britain people have lost music content estimated to be worth over £992 million in just two years.
On average, each person has been unable to recover 20 films in the last two years. In total, approximately 7.9 million films have been lost from digital devices, worth an estimated £27.5 million.
Over 17.9 million apps have also been lost that could not be recovered, worth an estimated £12.3 million.
The average British household now boasts an incredible number of high-tech devices. Across the country on average 84% homes have a laptop, with 71% of households now boasting at least one smartphone. The inexorable rise of eReaders is reflected by the findings that on average, a third (31%) of homes in the UK has one of these devices, with tablet devices present in 40% of properties (on average).
For further information, please contact:
Philip Anderson, Citigate Dewe Rogerson: 020 7282 1031
Lorna Gilmour, Sainsbury’s Bank: 0131 338 2863
Notes to editors:
(1) Sainsbury’s Bank commissioned ICM to survey 2,007 GB adults. Respondents were interviewed by ICM in an online survey 5th – 7th April 2013. Interviews were conducted across the country and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules. Further information at www.icmresearch.co.uk
Figures based on average price for content from a range of providers (assumptions based on worth of content if it had been purchased legally rather than downloaded free or illegally):
(2) For more information about Sainsbury’s Bank Home Insurance visit http://www.sainsburysbank.co.uk/insuring/ins_homeinsurance_hom_skip.shtml
To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre at www.sainsburysbank.co.uk/media
Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.
So far in 2013, the Bank has been awarded ‘Personal Loan Provider of the Year’ – Consumer Moneyfacts, ‘Best Loan Provider’ – Money Supermarket Supers and ‘Best Credit Card for Rewards’ – Moneynet.
Sainsbury’s Bank has its own banking licence, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514), except for Credit Cards and Loans where it is licensed by the Office of Fair Trading (OFT) license no. 421897. The Bank has an independent membership to the Financial Services Compensation Scheme.
Direct Line Group plc
U K Insurance Limited is the underwriter of Sainsbury’s Bank home insurance and Sainsbury’s Bank car insurance and are part of the Direct Line Group PLC. Direct Line Group plc (Direct Line Group) is headquartered in Bromley; it has operations in the UK, Germany and Italy.
Through its number of well-known brands Direct Line Group offers a wide range of general insurance products to consumers. These brands include; Direct Line, Churchill and Privilege. It also offers insurance services for third party brands through its Partnerships division. In the commercial sector, its NIG and Direct Line for Business operations provide insurance products for businesses via brokers or direct respectively.
In addition to insurance services, Direct Line Group continues to provide support and reassurance to millions of UK motorists through its Green Flag breakdown recovery service and Tracker stolen vehicle recovery and telematics business.
U K Insurance is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
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