Teenagers spend money on game consoles, movies and music concerts while ignoring newspapers. At least that's what Matthew Robson, a 15 year old intern at Morgan Stanley is saying according to Bloomberg.
He was asked by Morgan Stanley's European media analysts to report on what he and his peers look for in the information-entertainment industries. The result was " one of the most clearest and most thought-provoking insights we have seen", analysts say. "Teenagers are consuming more media, but in entirely different ways and are almost certainly not prepared to pay for it," Morgan Stanley analysts Edward Hill-Wood, Patrick Wellington and Julien Rossi said.
Statistics by a PEW study show that "19% of online adults age 18-24 have used twitter or something like it".
Robson's insights include:
- Teenagers don't twitter. They dislike intrusive advertising on billboards, television and the Internet and they are willing to chase content and music across platforms and devices.
They do not listen to the radio, and prefer music from websites that stream music for free and allow them to choose their songs. They are very reluctant to pay for music, and most have never bought a CD.
Newspapers and other print media are not popular, while movies and music concerts remain popular.
They go to the movies quite often although it's not about the film, but the experience and getting together with friends.
Teenagers from higher-income families use iPods, while those from lower-income families use mobile phones to listen to music
99% of teenagers use a mobile phone to listen to music.
They watch less live television because of online services that allow them to watch shows at anytime.
What's hot: Anything with a touch screen, mobile phones with large capacities for music, portable devices that can connect to the Internets and really big television sets.
What's not hot: Phones with black and white screens, clunky brick phones, devices with less than ten-hour battery life and anything with wires.