Targeting
the Millennials generation is the next big opportunity for media companies. As
targeting audiences becomes more ubiquitous across digital media channels,
media companies are identifying targeting strategies in order to build
audiences now and for the future. One such target is the largest and most
economically powerful generational group: the Millennials. In 2015, Millennials,
otherwise known as Generation Y or echo boomers, are ages 20 to 36.
The
most powerful ways to reach Millennials are through social media, and through
digital media with strong social media components. However, it is imperative
that publishers speak to the millennial audience in a profoundly different way
than older generational groups.
Millennials
have a much different view on the credibility of news coverage compared to
older generations. According to a 2013 study by Telefonica and the Financial
Times, Millennials are three or four times more likely to identify the Internet
and social media news sources as more credible than printed newspapers and
magazines, depending on the region of the world where they live. Further, Millennials
were two or three times more likely to identify Internet and social media news
sources as more credible than television news sources, according to the study.
Millennials’
media consumption patterns have been studied as early as 2006, when Pew
researchers Lee Rainie and John Horrigan published “When Facing Tough Decision,
60 Million Americans Now Seek the Internet’s Help: The Internet’s Growing Role
in Life’s Major Moments.”
“Compared to their elders, they are more
likely to turn to digital media first when researching a topic for school or
personal use, to read news on the Internet than in a printed newspaper; and to
use online social network tools to meet friends and to find information. In
other words, the primary sources of information in their world are often
(although not exclusively) digital, which is quite different from any
generation prior,” the research explains.
The early Pew research suggests the digital
native mindset of Millennials has had a deep impact on perceptions of news
credibility. “As the first generation to grow up with interactive digital
media, Millennials are comfortable with collaborating and sharing information,
and do so “in ways that allow them to act quickly and without top-down
direction.”
World Newsmedia Network has published
Global Digital Media Trendbook each year since 2006. The 2014 trendbook
contains 500 data sets and 230 pages of analysis about digital media usage and
revenue patterns, including this data set. To download the GDMT free executive
summary, go to www.wnmn.org