Generation Y Impacts Media Business

Brent Magid, a researcher for Frank M. Magid Associates, emphasizes the importance of acknowledging the elusive, but coveted Generation Y audience in a recent article. Although brand loyalty is not a common trait belonging to this group, their buying power will greatly influence the direction of the media business over the next decade

Reaching the Generation Y audience, also called, Millennials, requires a company to utilize both traditional and new media outlets. Guerilla marketing and viral marketing, in which a buzz or word of mouth is sparked between these consumers, is an ideal technique to use. Many Gen Y’ers also rely on social-networking sites such as Facebook or MySpace to receive their information. Overall, companies need to make sure promotional messages are kept up-to-date and trendy as to cut through the clutter and appeal to this audience.

Magid explains that Millennials aged 9-28 years old are numbering 79 million and are consuming the equivalent of 20 hours of media a day in about 7 hours. Understanding the behaviors and habits of this group is essential to the staying power of a company.

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