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Everybody knows the under-35 crowd are less avid consumers of traditional media than their parents.
Yet a new forecast from Deloitte predicts that North America’s 83 million 18- to 34-year-old millennials will drop substantial sums on media consumption this year: roughly $62 billion. That’s an average spend of $750 per person in the U.S. and Canada.
Pay TV is a surprisingly large part of the equation, accounting for almost half of that spending.
Deloitte estimates that 70 percent of millennials live away from their parents’ homes — and eight out of 10 will pay a monthly fee for television in 2015. So much for all the discussions about “cord nevers,” a group who opt never to pay for a cable or satellite TV subscription. According to the firm’s projections, four-fifths of millennials will spend an average of $80 a month on pay TV packages....
Millennials will buy media, it's just not their Dad's media. This Deloitte study shows what they're buying and where the marketing opportunities are.