Media consumption is multipolar demographically. It's the young vs. the old when it comes to viewing what's important to Americans. A new study commissioned by Variety Media brings light to this demographic divide.
The notion, that consumers of various ages favor different content formats is not new. What has changed, in the digital age, is the emergence of totally different platforms for entertainment. Whereas once young consumers watched MTV instead of CBS, now they watch TicTok and broadcast TV isn't even on the viewing agenda.
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| Media consumption is multipolar |
A Demographic Divide exists in media consumption. The key insights:
- media companies must reach consumers on their own preferred platforms
- traditional media must evolve to changing attitudes to survive
- there exists a digital divide between young and old consumers, those over 45
- news outlets are in need of regulation as they are no longer trusted
For companies to thrive a one-size-fits-all mentally is no longer effective. The media world going forward must be laser-focused on their audience and the platform(s) that audience uses.
Let's Look at the Numbers
Top 3 Favorite Entertainment Formats by Age Group
- 15-29: Social Media, Video Games, TV Shows
- 30-44: TV Shows, Watching Movies, Video Games
- 45-59: TV Shows, Watching Movies, Video Games
- 60+: TV Shows, Watching Movies, Listening to Music
TV is not the most entertaining media for the youngest consumers, in contract to other generations. In fact, people 60+ are twice as likely as those below 30 to say TV is their preferred way to entertain themselves.
The strong skew toward Video Game playing with all but the oldest group is significant. This is why media giants like Warners, Discovery, and Netflix are giving this sector so much attention.
Top 3 Least Favorite Entertainment Formats by Age Group
- 15-29: Cable News, Watching Sports, Social Media
- 30-44: Watching Sports, Cable News, Social Media
- 45-59: Watching Sports, Cable News, Video Games
- 60+: Watching Sports, Video Games, Social Media
Sports (are you listening NFL) and cable news ranked as the least favorite formats across the age spectrum. Less and less consumers are viewing sports and cable news shows in spite of the fact that sports overall are touted to be an American viewing stable. This is not the case.
This is the reason sports franchises are moving into Web3 and its various marketing components from metaverses to NFTs. To retain their viewing influence sports, cable news, and social media must maintain relevancy with younger consumers, without regard to gender, race, or social status.
Considering that watching TV isn't as strong for the 15-29s as other groups it is important to reach them via the formats they use in order to maximize potential audience growth. The smartest long-term strategy may be to distribute simultaneously across streaming, social, and TV.
Brand Ranking - 3 Most Entertaining Brands
- 15-29: YouTube, Netflix, TikTok
- 30-44: Netflix, YouTube, Facebook
- the other age groups were not tested for Brand Ranking
The top 3 entertainment brands are all new media for all consumers in the 15-44 age group. This is significant. For all of its current issues, Netflix scores the strongest of all media formats across the demographic range with social media next in line.
Takeaways
Traditional broadcast and cable TV are, for the most part irrelevant as we move forward, particularly as we transition to Web3 where current social media will also take a backseat. The assumption that consumers will simply become TV or streaming viewers is naive. Going forward consumers will be reached by other formats some of which may not have even been invented as yet.
Cinema Mucho Gusto
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Entertainment Equipment Corporation
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