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Something to mull this week: Brands and publishers have been obsessing forever over how to reach millennials, but a new study by The Atlantic’s creative marketing group Atlantic Re:think, Comscore, and Harvard College Consulting Group should challenge their thinking on people 18-24. The study has big implications for media and brands as they look for their next generation of users and customers.
The key findings:
- Gen Z prefers old media. Millennial media is not a fit for Gen Z, with respondents reporting lower favorability scores for millennial-targeted news outlets versus established news outlets. In fact, 48% of Gen Z prefer titles like Time and The New Yorker versus 20% who favoured newer ones like BuzzFeed and Cheddar.
- They’re less brand-loyal and expect brands to be more socially responsible than millennials do. 61% are more likely to buy brands that have spokespeople who are diverse rather than spokespeople who look like them, compared to 52% of millennials.
- They like brick and mortar: 41% said a physical store encouraged them to try new brands, versus an e-commerce site (18%).
- Out of 60 brands, only two get more love from Gen Z than millennials: YouTube and Apple.
- They’re less concerned about privacy, at least for now. 42% say they try to share as little as possible, compared to 54% of millennials.
Gen Z will demand more of the brands they buy and companies they work for, but Gina Bulla of Atlantic Re:think, who led the study, managed to find a silver lining.
“Part of it is good news,” she said. “They haven’t made set-in-steel brand preferences. There is a lot of opportunity to grow that love.”— Lucia
Here’s what else we’ve been up to this week.
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New York Times COO Meredith Levien discusses success after the Trump bump and why some people might pay a lot more for a subscriptionReader revenue has been the big growth story at The New York Times, which hit 4.3 million subscriptions at the end of 2018. I talked to Levien about how to keep the momentum going, the Times is doubling down on investigative reporting.
Everything we know so far about Verishop, former Snap chief strategy officer Imran Khan’s new e-commerce startup that aims to take on AmazonFormer Snap chief strategy officer Imran Khan revealed the name of his new e-commerce company, Verishop, that he plans to be an alternative to Amazon or Jet. He’s signed partnerships with beauty brands Ursa Major and Indie Lee and home goods brands Primary Goods and Indego Africa, among others.
FuboTV may be one of the smallest live streaming services, but it has a plan to beat giants like Dish and AT&TStartup FuboTV is tiny among the live-TV streaming companies, but it has a plan to get to 10% of the market by 2025, from 2% now, with a great user experience that takes inspiration from Netflix. It’s expanding to smart TVs and is working on features that will give users recommendations and personalised content streams.
Meet the power players of Comcast who will do battle with Disney and Google in the year aheadAbby Jackson profiled eight of the power players at Comcast including Sky CEO Jeremy Darroch and NBCU CEO Steve Burke who will be key to realising Comcast’s mission of building a distribution+content behemoth and winning cable customers back.
YouTube quietly stopped paying the bill for brand safety, and a battle with agencies could be escalatingLauren Johnson broke news about a battle between YouTube and ad agencies over brand-safety fees. YouTube has been footing the bill since it was scandalized by ads appearing next to inappropriate content, but now that it’s made progress to clean up the platform, it wants agencies to pick up the tab.
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