A reading meter system and method is provided for identifying the existence and position of text in visual media content and determining if a subject has interacted with the text and/or the level of the subject's interaction with the text. The determination may, for example, be based on data generated from an eye tracking device. The reading meter system may be used alone and/or in connection with an emotional response tool (e.g., a software-based tool for determining the subject's emotional response to the text and/or other elements of the visual media content on which the text appears). If used together, the reading meter system and emotional response tool may both receive, and perform processing on, eye date generated from a common eye tracking device.