Experience Is Millennial’s New Status Symbol
New in-depth research piece – Bauer Knowledge: The Millennial Chapter – finds brands need to help empower Millennials do, feel and share.
- New in-depth research piece – Bauer Knowledge: The Millennial Chapter – finds brands need to help empower Millennials do, feel and share
- Study reveals five Millennial segments: The Influencers, The Adopters, The Apprentices, The Entertained and The Contented
London, January 21, 2015: Bauer Media, home to entertainment brands including KISS, heat, Absolute Radio, Grazia and The Debrief, has today launched Bauer Knowledge: The Millennial Chapter, revealing experience is the most valued status symbol for the UK’s millennials. It is the first insight in a series of in depth studies into key audiences.
Millennials are a highly valued audience; making up one in four adults in the UK with a predicted audience growth to 17m in 2019. Bauer Media’s insight comes from a unique study of over two thousand Millennials to provide an in-depth analysis of current behaviours and implications for brands. Participants in the study were asked to review adverts and media brands, keep diaries of the media they used, and write passionate ‘love letters’ to their favourite media brands.
Bauer Media’s study revealed Millennials seek meaningful experiences in both work and life, but some struggle to achieve the balance they want:
- 74% of Millennials agree that they ‘enjoy the shared experience of events’
- 77% agreed they ‘love having new and original experiences’
- Social media sharing also drives proliferation of experiences with 71% agreeing that ‘I’d rather tell people about something I’ve done than something I’ve got’
- The group are part of an ‘always on’ culture that live online and 56% admit that they are ‘constantly checking social media to make sure I’m up-to-date’
- However 42% of Millennials feel like ‘they are constantly bombarded by updates from friends and news’ which can often mean they feel the pressure of self-esteem and exposure
Through the research, Bauer has defined five segments of the Millennial demographic: The Influencers, The Adopters, The Apprentices, The Entertained and The Contented. Bauer have looked into how advertisers and brands can communicate to these different segments and the different ways to approach them.
Krissie Ford, Head of Client Development, Bauer Media said, “Our new insight exposes Millennials’ hyper-connected world as pressure-packed, but brands can overcome this by offering relief through entertaining and inspiring content. Experience is a key theme across all groups and brands should help empower this through doing, feeling and sharing.”
Anne-Marie Lavan, Group Marketing Director, Bauer Media, said: “Our media brands reach 57% of UK Millennials and we’ve always had a strong track record with this age group. It’s about concentrating on ‘who’ they are rather than just ‘how’ they are accessing media; by defining the five Millennial segments, this research gives our commercial partners unprecedented insight into a previously stereotyped group, allowing for a much higher level of consumer understanding.”
For more information please visit www.thedrum.com/bauer
Bauer Knowledge is the home of unparalleled audience insight from Bauer Media. The Millennials Chapter is the first in a series of in depth studies into key audiences.
== Ends ==
Notes to Editors:
- Consume 66 hours of media per week, actively engaging in advertising
- Highly active online, following trends heavily and like their voice to be heard
- Driven by self-expression and pursuing passions
- Consume over 65 hours per week of media and are particularly prolific on social media as well as being highly open to ads and sponsorship
- Like to seek knowledge and it’s their social image and self-esteem that drives them
- Concentrate more on reaching their goals and less on following trends – using online to help them achieve this
- Fairly receptive to brands and seek either high value for money or aspiration
- Live busy lives and have less time for media consumption
- Receptive to ads and communication on their own terms
- Priority is to be entertained, prioritising celebrity and real-life content over news
- They don’t push themselves too hard in their careers and don’t feel the need to keep up with trends
- Quick to switch off from advertising, they are big users of on demand TV
- Value their time spent with loved ones over money and their career
For further information, please contact:
Eleanor Crossman and Gemma Mejer at MWW
T: 0207 046 6080