Marketing Momentum

Friday, June 23, 2006

Media & The Millennials

I first read brandUNITY's post, which then motivated me to read the actual article from Mediaweek regarding the Millennial Generation's (ages 9-28) impact on media businesses over the next 10 years.

At 79 million, one million larger than the Baby Boomer Generation, the Millennials have grown up using multiple media platforms at the same time consuming 20 hours of media a day all within 7 hours of clock time.

Much of this group gets its information from word-of-mouth especially as social networking sites become increasingly popular. According to Brent Magrid, president & CEO of Frank M. Magrid, 18 million 13-28 year-olds use social networking sites each day.

However, promotional messages from TV stations and networks still remain as important method, but crafting messages for this group need to be more cutting edge than traditional.

With their need to multi-task using multiple media platforms, marketing to Millennials further enforces the importance for integrated advertising campaigns.

On another note, with the Millennial Generation being larger than the Baby Boomer Generation I wonder what the state of certain government (i.e. Social security, Medicare, & Medicaid) and private health care services will be like as this group grows older? We're already seeing a growth in demand for health care services and retirement communities as Baby Boomers retire. Yet, those same services will likely suffer as the Baby Bust Generation retires and the Baby Boomers naturally move on only to have the need increase again with the Millennials. I suppose everything is cyclical.

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