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Chart of the week: Millennials pay for entertainment, not for news

Millennials may have no problem paying for Netflix, Spotify or the most recent video games, but when it comes to news content they are surprisingly thrifty. 

That’s the result of a report published by The MediaInsight Project, a joint research initiative by The American Press Institute and the AP-NORC Center for Public Affairs Research. 

Based on a survey of 1,046 Americans aged 18-34, the report shines a light on young Americans’ habits and attitudes in terms of news consumption. According to the survey results, the digital generation is much more inclined to spend money on entertainment than to pay for news content.

Millennials - Statista (Statista)

It's not that millennials don't value information - according to the report, staying informed is very important to them - it's the way they consumer news that has changed.

While previous generations had to rely on newspapers and magazines to stay on top of current events, millennials have a plethora of news sources at their disposal, many of them free and available at the touch of a finger. 82 per cent of millennials get most of their news from online sources with social media playing an increasingly important role.

Facebook in particular is a popular tool to stay informed throughout the day, although dedicated news media remains the primary source for “hard” news topics such as the economy, foreign affairs and national politics.

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