How to Reach Millennials
Millennials are often the target of advertising campaigns, and for good reason! They love to consume content and share buzz-worthy ideas across their ever-expanding networks. To set our clients up for success, Amélie Company has focused our behavior change campaigns over the last 10 years to also target millennials.
To reach these millennials, broadcast outlets have been the pillar of our media plans. They offer powerful solutions to create buzz within wide and complex audiences in a very short period of time.
However, Nielsen released audience research data showing a spectacular drop in TV consumption by millennials at the pace of 20% per year. Even if the trend has been visible since 2011, last year has shown the most dramatic decline. The 18-24 age group reports that they went from watching traditional TV each week from 3 hours in Q4 of 2013 to 2 hours in Q4 of 2014.
So what do millennials do with all this free time?
There’s a reason that HULU, VUDU, Netflix, Amazon Prime and HBO Now are household names for the 18 to 34 year-old population. Young adults are now turning to these platforms for entertainment. For example, HULU’s revenue has zoomed from $0 to more than a $1 billion in just 5 years.
Is that really a surprise given astronomical monthly fees for cable or satellite services? Internet connection enters the home at a speed of 100MB/sec. And portable devices now offer amazing screen resolution. LTE or 4G wireless connections expand every day in the U.S., including in cars, busses, trains or planes.
It’s time for the major broadcast networks of the world to react quickly.
They are already sorely behind in terms of their pricing model which has not adjusted to compete against premium platforms like HULU. My next blog will cover this subject!