Earlier this year, The Economist unveiled the results of a new set of research into the media consumption habits of young people. The findings confirmed what had long been suspected throughout the global media industry: people no longer draw a distinction between new media and legacy media brands. We asked The Economist's Nick Blunden, MD of client strategy, to shed some light on the research surrounding this much talked about demographic.
"We wanted to find out more broadly how this generation look at and participate in media, and whether they do draw these distinctions between new media companies that have been positioned as being the kind of voice of that generation – Vice and people like that – and traditional media."
This generation, and in particular a sub-set of them, which we’ve called the ‘Generators’, which is an extremely influential group within millennials as a whole. About 1 in 3 millenials falls into this categorisation. And what we found out about them is that they’re some of the most sophisticated media consumers the world has ever seen. And actually they’re as willing and active to use traditional media as they are new media.
When it comes to content… (1:15)
They are interested in all different kinds of content and all different types of topics. They consume more media than any other generation that’s gone before us – that’s good news. And the way they consume it is more varied.
More generally, what is the current state of media research? (1:50)
Yeah, one can always do more. I think we’ve moved on a lot from where we were, both as an industry as a whole and certainly from an Economist perspective. But I think we still have some way to go if I’m being honest – and I think it’s less about the collection of it and its more about the anlaysis. Asking the right questions and then drawing the right conclusions.
Big data (2:12)
People have got so caught up in this idea of BIG data that they want to measure and collect everything, but actually that is of little use unless you are using it.
Why a former internet giant looks at magazine media for inspirationAbout.com has started with a "great unbundling" to develop 5 core vertical brands in a drive to become more like "a Condé Nast, Hearst or Meredith". This is because vertical brands built on trust provide a stronger internet proposition today than general interest content brands aimed alone at building scale, according to its CEO.
30th Mar 2017
Digesting the futureTrusted Media Brands, Inc. (TMBI) has built up an impressive portfolio of special interest titles, including Reader’s Digest, Taste of Home and The Family Handyman. However, while the company’s business has traditionally been built on loyal print audiences, Vince Errico, chief digital officer of Trusted Media Brands in the USA, explains that the digital world is now offering special interest titles new opportunities for growth…
27th Mar 2017
Measuring chatbots, and what makes for successWhile some industry sectors are only beginning to consider the potential of chatbots, others are long past the point. Their conversations are shifting to, among other things, figuring out how to better measure engagement and retention of users within their bot environments.
26th Mar 2017
Monetising content - from distribution to subscriptionDiversifying revenue streams is naturally on top of the to do list of the execs of most publishers. It is a topic that was widely covered at DIS 2017 with a number of speakers addressing the issue of monetisation from a number of differing perspectives on Day 1 and Day 2.
21st Mar 2017