According to a study commissioned by Deloitte, millennials will spend quite a bit of money on content in 2015. North American millennials will spend over $62 billion on media content this year. Yes, they are spending less than the demographic did in the past, but they are spending it, and a large chunk of it is good old "traditional" media.
Here's the chart you need to show at your next sales meeting:
Of course, they're not buying radio, after all, we're giving it to them for free. But we do know they are listening.
The study concludes that devices are the new status symbol, so 18-34 year-olds will undoubtedly continue to spend heavily on tech hardware and telecom services at higher levels. 18-34 year-olds will still spend on content, but may be choosier consumers and more-price sensitive than in the past. The research notes that the spending on book, computer gaming, OTT providers, cinema and music industries establishes that millennials will spend for certain types of media.
The research is good ammunition for your salesforce prospecting 18-34 advertisers in your market. Download the PDF here.
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