Nielsen sheds light on Generation Z and Millennials
The Millennial generation is still a headline grabber for its adoption of new technologies and media behavior habits. But the generation just below it – Generation Z, or ‘Boomlets’ – takes those trends even further. Generation Z is just starting to enter the workplace, and taken together with Millennials, they make up 48% of the U.S. population. A new Nielsen report tells us everything we need to know about how these generations approach media.
The report states that Millennials enjoy greater access to multimedia devices like Apple TV and Google Chromecast, and subscribe in greater numbers to streaming video on demand (SVOD) services like Netflix and Amazon. Generation Z also had high penetration rates in these areas, but seemed to benefit from high-earning members of their households’ technological choices too. They had the highest penetration numbers for more expensive luxury entertainment items like smart TVs (37%), video game consoles (73%) and tablets (78%).
While adoption of newer technologies is rising quickly in the Baby Boomer generation and Generation X, it is Millennials and Generation Z that stand out as truly immersed in the trend. More than 97% of Millennials and Generation Z now own a smartphone.
Generation Z, in particular, is the most diverse cohort in the U.S. They not only use the most diverse range of media technology, but Nielsen reports that they are the most racially and politically diverse too. Understanding Generation Z can provide not only a blueprint for how media will be consumed in the future, but also, what that media could look like.
Dominion holds Nielsen in its Global Trends Ecommerce Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.