(Photo by Jerod Harris/Getty Images for PTTOW!). With this in mind, we took a backseat and watched as students of Dobson Middle School interviewed their peers on a … 7. So, who is Generation Z? As access becomes the new form of consumption, unlimited access to goods and services (such as car-riding services, video streaming… Extensive Factual Reporting for Television and New Media, Subscribe to our newsletter to access this content. It is no secret that Millennials and Gen Z consumers have done much to shape the world we know today. A new generation has arrived. Media Consumption: The average Gen Zer received their first mobile phone at age 10.3 years. Consumer brands show us that with Gen-Z, real-life interactions and integration of tech with brick and-mortar are smart moves. According to a study done by Whistle Sports, this demographic is on track to outnumber millennials by 1 million by 2020 . People of Gen Z, the cohort born between mid- to late-1990s, are spending more than they are earning. They are the newest entrants to the workplace and … Other Nicknames: iGeneration, Post-millennials, Homeland Generation. “Generation Z is discerning,” says Jeff Froom, co-author of Marketing to Gen Z. MOBILE VIEWERSHIP ACCOUNTS FOR OVER 40% OF GEN Z VIDEO CONSUMPTION HOURS The number equates to about 20% of total US household members. Total Spend by U.S. Generation X, Millennials and Gen-Z The tendency of millennials to live in cities has also had consequences for the automobile industry. Parks Associates today released the new market snapshot OTT Video Viewership: The Role of Mobile, which finds viewing on a smartphone or tablet now accounts for over 40% of all video consumption hours among Gen Z heads … Gen Z and millennial consumers are comfortable with vertical video formats that make viewing easier on smartphones. They … Compared with other age groups, Generation X will experience the greatest increase in share of national wealth through this period. But their appetite for video isn’t good news for everyone. How can luxury players understand the expectations and consumption habits of each? 2. 7. Gen X and up, on the other hand, are much less likely to watch GVC (43%). For Gen Z—and increasingly for older generations as well—consumption means having access to products or services, not necessarily owning them. This is "Media Consumption Gen Z" by NUMA New York on Vimeo, the home for high quality videos and the people who love them. Gen Z and Millennials: Video Content and Generational Differences. Three forces are emerging in a powerful confluence of technology and behavior. 7 As a result, many M&E providers are struggling to segment media consumption habits based only on generational behavior. I am fascinated by the digital transformations underway in travel, media, and entertainment, so I decided to pursue an academic career to study these industries in-depth. YouTube (64% of Gen Z) edges out Instagram (63%), which in turn edges out Facebook (61%). Businesses in the media and entertainment ecosystem that adapt accordingly will win. Gen Z is a video-first generation. At The Center, we call this new generation Gen Z, but they've also been called iGen, Founders, and Centennials. In a market snapshot highlighting the importance of mobile video among an increasingly important demographic, Parks Associates has found that viewing on a smartphone or tablet now accounts for over 40% of all video hours for Gen Z. Gen Z increasingly take up mobile for video consumption, US streaming churn rates fall sharply over 2020, Daytime the second primetime for total US TV consumption, Liverpool and Manchester top the UK Netflix league, The Undoing set to be biggest US series to ever launch on Sky Atlantic. Summit: Love & Courage at Terranea Resort on April 12, 2017... [+] in Rancho Palos Verdes, California. Media Consumption in the Age of COVID-19. Another important Gen Z characteristic to note is that they are almost always online. Both of these generations are heavily influenced by and accustomed to technology. Consumption re-signified: From possession to access. You can change your cookie settings at any time but parts of our site will not function correctly without them. 57 percent of Gen Z perceives immigration as an important issue. Gen-Z White Paper by Kantar joint QQ Advertising predicts that by 2020, the consumption of Chinese Generation Z will account for 40% of the total consumption … According to a recent Deloitte report, net wealth in the United States will grow to $120 trillion by 2030. I have witnessed how digital technologies transform industries and consumer behavior for more than two decades, across four continents. (Photo by Jerod Harris/Getty Images for PTTOW! Survey respondents spent 12% of their daily video consumption on cable television. Since millennials watch news on social media, they’re more likely to see your video content. As they gain purchasing power, it is more important than ever for media and entertainment companies to understand how Gen Z's consume content, especially considering that they account for about a quarter of the U.S. population. My question is: How well do you know Generation Z? Generation Z or Gen Z is a reaction channel for music and more! A review of Internet sources shows various start dates for Gen Z. Pew Research Center, however, considers 1997 to be their starting date with their end date undetermined as of 2019. Gen Zers are keenly aware when they are being sold to, so content bombarded with cold marketing and logos is going to fail with this generation. Gen Z will be the next generation to make its mark on the consumer journey and as such, represent a significant opportunity for all brands. China’s generation Z has earned the nickname ‘Internet Generation’ because they are greatly influenced by what they see on the internet. Similarly, half of Gen X respondents reported that they play video games frequently, almost matching Gen Z and millennial respondents. 71% of Gen Z-ers also have a Netflix subscription, more than any other generation. Millennials and Gen Zers represent a powerful driving force in the marketplace today. Millennial and Gen Z Media Consumption. In the US, Gen Z constitutes more than a quarter of the population and by 2020 will be the most diverse generation in the nation’s history2. Here’s a look at some of the key ways Generation Z will change consumption in the near future: Mobile-first The trend has been moving to mobile for a while, whether shopping, banking, accessing social media or any of the other digital habits we have today. Generation Y and Generation Z are often combined and share many characteristics, most notably a savvy with … Hulu received 7% of Gen Z’s daily video consumption, and 3% went to Amazon Prime Video. Nobody knows Generation Z quite as well as they know themselves! There is plenty of evidence that Gen Z’s consume much of their media on smartphones. According to YPulse’s most recent media consumption monitor survey, while Millennials still name TV as the screen they watch the most media content on weekly, smartphone is the top screen for Gen Z. According to Kara Alter, Head of Brand at Shimmur, a Gen-Z focused media company, not only are social influencers a driving force of new media consumption, but they're beginning to take center-stage in mainstream productions as well. Dallas made his name with simple, hip, and fun videos on Vine and YouTube. 12 Whether it’s music or video, influencer content is short-form, off-the-cuff, and highly relatable. Also, 78% of Generation Z has a tablet in their home. Food continues to be Gen Z’s top spending category, and Chick-fil-A is their favorite. The research showed that the Gen Z mobile video consumption level was twice that among all heads of US broadband households. Gen Z’s are digital natives and social-media driven, and so are millennials who are close to the older Gen Z's. Many in fact refer to Gen-Z as the ‘’omnichannel generation’’, stressing the fact that publishers should consider using a combination of print and digital marketing approaches to successfully monetize this audience. I have a PhD in Information and Decision Sciences, with an MBA and a Masters in Applied Economics. Almost Half Of Gen Z Will Be Connected Online For 10 Or More Hours A Day. In North America, 70% of Generation Z (those aged 14-19) watches Netflix each month, GWI observed, and worldwide, 25% of all Gen Z watches Netlifx. Drive In-store Traffic, Digitally. Currently, the average weekly allowance is estimated to be $16.90 in the U.S., which gives teens and children direct purchasing power of $44 billion a year. 75% of Gen Z-ers don’t consider college the only path to a strong education. Most of Generation Z comprises the children of Gen X, although some may be children of later Baby Boomers. The generation after Millennials has arrived. The format, a ten-second picture or video message, has expanded rapidly. Generation Y and Generation Z are often combined As digital natives, a … Gen Z and millennial consumers are comfortable with vertical video formats that make viewing easier on smartphones. Parks Associates has released a market snapshot OTT Video Viewership: The Role of Mobile, which finds viewing on a smartphone or tablet now accounts for over 40 per cent of all video consumption hours among Gen Z heads of US broadband households, compared to just 20 per cent among all heads of US broadband households. Gen Z is comprised of those individuals born between 1995 and 2012. Understanding this generation will be … Influencers who make their name on social media platforms like Instagram, Musical.ly, and YouTube are an increasingly important driver of consumption, and content itself is adapting accordingly. I have a PhD in Information and. According to Trifecta Research, 59% of Gen Z video consumption is done via OTT services, as opposed 29% for TV and 70% of Gen Z’s watch more … The younger generation is far more likely than Millennials to use Instagram, YouTube, Snapchat, and, yes, TikTok, to get their news. Strikingly, 71% of teens’ typical entertainment consumption is streaming, and one-third is viewed from a mobile device. Currently I am the Executive Director of the Institute for Entertainment, Media, Sports and Culture at Pepperdine University. In fact, according to Trifecta Research, 59% of Gen Z video consumption is done via over-the-top (OTT) services as opposed to 29% for TV. Generation Z refers to those individuals who were born in the decade following the widespread emergence of the World Wide Web, from the mid-1990’s to the early 2000’s. Another 43% said they would use VR for movies, while 36% said they expect to use the new technology for live events, such as concerts and award shows. By 2020, Gen Z will account for 40% of all US consumers. Advertisers, Over 20 Years. Considered a thrifty generation, Gen Z has posed a challenge to key general merchandise industries, which have struggled to drive dollar growth among this cohort over the past two years. in Rancho Palos Verdes, California. Gen Z will soon surpass Millennials as the most populous generation on earth, with more than one-third of the world’s population counting themselves Gen Zers. According to YPulse’s most recent media consumption monitor survey , while Millennials still name TV as the screen they watch the most media content on weekly, smartphone is the top screen for Gen Z. New Market Snapshot addresses importance of the mobile video experience, Gen Z consumer habits, and the changing role of mobile among video consumers. Viewership figures for mobile devices surpass that of PC, followed by TV with the smallest share. However, the COVID-19 pandemic has resulted in the major upheaval of advertising spend, and it is unlikely to recover for some time. Additionally, Gen Z is turning to video content to decompress and find a release from the increased social pressures and competition they’re facing. Generation Z owns more video game consoles than millennials – 73% compared to 66%. With an advertising economy worth $239 billion in 2019, it’s safe to say that the U.S. is home to some of the biggest advertising spenders on the planet.. 3 Media Consumption Gen Z is connected and conscientious 4 Media Habits • Social Media: Instagram remains top for teens • Video: Rise of Netflix • Radio: Streaming gains on MP#s 5 Media Habits –Screen Time Teens and tweens use a large percentage of media per day Teens and tweens still tune in to TV Understanding … I use an Economics lens to study common patterns in digital disruptions across industries and to predict industry-specific outcomes. Gen Z is set to be the most financially powerful generation in the coming years. Marketers wondering how to speak to Gen Z need to find ways to connect with them online, which means catering to their unique preferences. While online shopping growth continues to outpace growth of brick … Gen Z young adults generate an aggregate income of $463 billion, while older teens (15- to 17-year-olds) have an aggregate income of $17 billion and … Generations Y and Z are the first media consumers to emerge with interactive media as the predominant means by which they ‘consume’ messages. ), EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation with Forbes Insights, smartphones are used almost three hours a day. A mere 15% of of-age Gen Z drinkers reported drinking once a week , a small percentage compared to 28% of millennials and 36% of baby boomers. Additionally, Gen Z is turning to video content to decompress and find a release from the increased social pressures and competition they’re facing. Gen Z: Consumption and implications for companies. They also watch more than two hours of … By 2020, Gen Z and Millennials will represent more than half of all luxury consumers. There are plenty of studies and experts talking about the psychology of Gen Z’s and how to market to them, but research on how Gen Z consumes content is just starting to emerge. Here is a summary that may be worth discussing with your colleagues. Influencers have magnetic personalities and built-in distribution, but they also have a deeply personal relationship with their fans, which allows them to create storylines they already know will resonate with their audience. Opinions expressed by Forbes Contributors are their own. The percentages are slightly higher among Snapchat users, … Dallas made his name with simple, hip, and fun videos on Vine and YouTube. We have a great community at Gen Z Reacts so make sure you subscribe! The members of Gen Z have all but abandoned traditional television viewing, opting to consume shows, movies and other digital content on their phones, tablets and laptops. A report by Accenture on the consumption behavior of Gen Z found that in 2015, the monthly spending of China’s 250 million born after 1995 is approximately RMB 1314 yuan while their incomes were at RMB 1830. Among teens (13-18 years old), smartphones are used almost three hours a day to consume TV shows, videos, music, games, and social media. Having not yet reached adulthood, Gen Z accounts for $830 billion per year in the U.S., covering 6.8% of total U.S. consumer spending each year. For Gen Z's, social media is a major way of engaging with his or her community, as opposed to just being a digital broadcasting platform. Currently Aged: 8 to 23. Gen Z are primarily the children of Generation X.. 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