This iteration of the report focuses on the distinctive media palates across generations - and, most notably, Generation Z. While generations like the Baby Boomers and Millennials are well known and add their own unique value to the media landscape, the lesser studied Generation Z is quickly maturing into adulthood and will soon make their presence known.
- Generation Z accounts for 26% of all persons in U.S. TV homes - the largest generation of individuals today. Combined with Millennials, both generations account for nearly half of the U.S. population. In addition to being the largest, Generation Z is also the most diverse - including the largest percentage of Hispanics of all generations at 22%.
- Newer technologies are on the rise and essentially adding to total daily media usage as opposed to taking away from traditional platforms. Smartphones have become nearly ubiquitous, with 97% of Generation Z and Millennials, 95% of Generation X and 86% of Baby Boomers owning one. Streaming Video on Demand (SVOD) services are available to 3 out of 4 Gen Z'ers and Millennials, while 69% of Generation X and 51% of Baby Boomers have access as well.
- Millennials and Generation Z display similar tastes for emerging technologies like multimedia devices (Apple TV, Google Chromecast) - however, how they arrive to those preferences is partly dictated by their corresponding life stage. While Millennials are affected by their nascent standing in the workforce, Generation Z benefits from the higher incomes of family members in their household.
But while age groupings are strong indicators of diversity, they’re also a clear barometer of life stage and thus, a strong gauge of media habits. Millennials—who are most likely in the beginning stages of their careers—have the lowest household incomes and are more likely to rent their home and live in urban areas.
Members of Generation Z, on the other hand, tend to live overwhelmingly in homes of three or more people, enabling them to benefit from the higher incomes of the family members they live with.
Still, Millennial and Generation Z consumers display similar tastes for emerging technologies. However, those preferences are partly dictated by their corresponding life stages.
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