Every generation leaves their footprint on media and entertainment, and it looks like the Millennials’ footprint is likely to be a big one. Last week at the ThinkLA conference in Los Angeles, I gave a Presentation on this topic. Attending were over 600 executives in the media and entertainment business. Among this group, there is a growing sense of unease about where it’s all going. Long standing business models have been disrupted overnight. In a recent research paper conducted by Ipsos for the Social Media Advertising Consortium, it was reported that 30% of Millennials’ media time (5 hours/day) is now spent with User Generated Content (UGC) created by their friends and peers. Our own research at LifeCourse confirms this. In a recent survey we conducted for twitch.tv, we found that 93% of Millennials go to social networking sites on their smart phones. This compares to 85% of GenXers and only 52% of Boomers. Conventional media like broadcast television is under enormous pressure to stem eroding market share from emerging media, and Millennials are leading this shift. History shapes generations. Generations shape history. To understand how Millennials influence these new trends and discern where it is all going, we need to go back in time to the formative years of their childhood, and their coming of age experience– their own history. These early experiences shape their values and beliefs that remain enduring and unique, and can give us a glimpse into the future. Every generation is shaped by their place in history. Aristotle said that history shapes generations, and then generations shape history. Millennials were raised during a time of increasing parental involvement. We’ve all heard stories of helicopter parents, clearing the way for their child’s success and achievement. Indeed, Millennials were raised to feel special and instilled with an ethic of achievement. Surrounded by a team of parents, teachers, coaches, and tutors, the expectation of individualized attention as well as a trusting support network allowing them to grow and achieve has always been part of the Millennials coming of age story. Role models at an early age encouraged teamwork and cooperation. Do you remember Barney the Dinosaur? I love you, you love me, we’re one big happy family… By contrast, GenXers grew up to learn to fend for themselves– it was a time of declining parental involvement. One of the iconic figures of their coming of age experience was a Muppet who lived in a garbage can– Oscar the Grouch!

1. On Media and Entertainment
Millennial Footprint
1

2. 2
“Generations are
shaped by history,
and then history is
shaped by generations”
Aristotle

3. Each Generation
Shares in History:
• Common Age
• Common Location
3

4. 4
Each Generation
Shares Common:
• Attitudes
• Behavior Traits
• Collective Identity

5. What shapes behaviors?
Actions/Behaviors
Opinions/Attitudes
Values/Beliefs
What are the prevailing cultural norms when growing up?
5

6. 6

7. 7

8. 8
Baby Boomers
Focus of Attention
Self-Actualized
Idealistic
Group Oriented
Challenge Authority/Rules
Work-focused
Change Agents
Generation X
Ignored
Survivors
Cynical
Individualists
Avoid the rules
Self-Directed
Pragmatic
Millennials
Special
Sheltered
Confident
Team-Oriented
Conventional
Pressured
Achieving

9. 9

10. Generations and Technology
10
Boomers
1980’s – 1990’s
GenXers
2000’s – 2010’s
Millennials
2010’s – 2030’s

11. 11
OUTLINE
• Who are the Millennials?
• The Four Values That
Shape Their Behavior
• The Footprint for the
Future of Media and
Entertainment

12. Who Are the Millennials?
12

13. 13
The Millennials
• Born 1982 – 2004
• Currently 10-32 years old
• 32% of US Population (100 million)

14. Coming of age in the 2000’s
14

15. What Do We Know About Millennials?
15

16. 16
Millennials
• Special
• Sheltered
• Confident
• Team-oriented
• Achieving

17. Most Ethnically Diverse and
Educated Generation
17

18. 18

19. High School and College-Aged Youth
Trend in Last 15 Years
• unstructured free play, hours per week DOWN
• sleep, hours per week DOWN
• age at which career choices are made DOWN
• temp work for pay, hours per week DOWN
• homework, hours per week UP
• intend to go to 4-year college, share of total UP
• admission standards, at typical college UP
• first job via internship, share of total UP
19

20. 20

21. Four Millennial Themes That Will
Shape Media and Entertainment
• Hyper-Socialization
• First Life/Second Life Blend
• The Maker Movement
• The Barney Effect
21

22. I Love Everybody
22

23. I Love My Family
23
• Get along with parents
• 82% of teens report
“no problems” with any
family member—up
from 75% in 1983,
48% in 1974.*
• Parents are a source
they Trust!
*Source: National Association of Secondary School Principals (2005)

24. I Love My Friends
“My friends are the most important thing in my life”
24
Millennials
55%
GenXers
44% Boomers
40%
*Source: Percent Strongly Agree and Agree, LifeCourse survey, 2014

25. I Love My Friends
25
51%
of Millennials
play games
with their
friends.
16%
of Millennials
play games
with their
parents.
Source: Entertainment Software Association
32%
of Millennials
play games
with their
family
members.
72%
of Millennials
play games
with their
friends and
family members.

26. I Love My Community(Trust)
26

27. I Trust My Community
27

28. Hyper-Socialization
28
It takes a village
• 55 million viewers
• 16 days
• 1.6 million participating
• Social experiment
• Democracy v. Anarchy

29. First Life/Second Life Blend
29

30. First Life/Second Life Blend
30

31. First Life/Second Life Blend
31

32. First Life/Second Life Blend
32

33. First Life/Second Life Blend
33

34. 34
In Real Life
“He’s the site’s
worst troll, but
IRL he’s a
lawyer”

35. First Life/Second Life Blend
35

36. First Life/Second Life Blend
Average hours a day in front of a screen.
36
10hrs
8hrs
7hrs
MILLENNIAL BOOMER GENXER

37. First Life/Second Life Blend
37
Sometimes,
I think Life
is like a
video game
52%

38. First Life/Second Life Blend
“I know it’s not real, but I think it is”
38

39. The Maker Movement
39

40. The Maker Movement
30% of Millennial’s Media time is spent with
User Generated Content (UGC)*
40
*Content created and curated by their peers

41. Maker Movement
41

42. Maker Movement
Where players create and creators play
42

43. The Maker Movement
Education Avocation
43

44. Avo-tainment
There are 1 million broadcasters on twitch.tv
Top earner in 2013: over $300k
44

45. 45
Avo-tainment

46. 46
Edu-tainment

47. The Barney Effect
47

48. The Barney Effect– Be Nice, Be Fair
"The government should work to substantially reduce the
income gap between the rich and the poor."
48
Source: CNN/ORC poll, Feb 2014
72%
of Millennials
Agree

49. 49

50. Socially Conscious
“Having a positive impact on society is important to me.”
Percent Strongly Agree
50
Millennials
30%
*Source: LifeCourse survey, 2014
GenXers
24% Boomers
22%

51. Socially Conscious
“It is important to me to company I buy products
from supports social causes.”
51
*Source: LifeCourse survey, 2014
Percent Agree
Millennials
54%
GenXers
46%
Boomers
48%

52. 52
Equity/Fairness
70% of Millennials agree with
the statement “If a company is
unfair with me, I’ll figure out how
to make things fair.”
Nick Shore. “Millennials Are Playing with You.”
Harvard Business Review. December 12, 2011.

53. 53
Equity/Fairness
“Millennials expect brands
to listen to their feedback
and engage in a two-way,
interactive conversation
with them.”
--Social Intelligence

54. 54
Participation

55. SUMMARY
55

56. THE MAJORITY OF NETWORKS ARE SEEING A
DECLINE IN THEIR 18-34 AUDIENCE
• Across all networks, the total P18-34 audience decreased in audience size from 2011-2014.
P18-34 Network Reach Proj (000) 2011-2014
56
45,000
40,832
30,634
26,927
32,767
16,342 15,293 13,923
11,630 11,906 12,354
8,841 8,910 9,920 9,124 9,001 8,006
5,187 5,132 5,413 4,166
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Feb '11 Feb '12 Feb '13 Feb '14
FOX CMDY ESPN ADSM TOON
Prepared for: Twitch TV
Source: Source: Nielsen; Combined Home & Work Online Panel, P18-34, Feb 2011-2014
% Change
FOX -20%
CMDY -24%
ESPN -22%
ADSM -9%
TOON -20%

57. 57
0.045%
0.040%
0.035%
0.030%
0.025%
0.020%
0.015%
0.010%
0.005%
0.000%
Share of Search Clicks
Search Term Variations - "twitch" vs "buzzfeed"
"twitch"
"buzzfeed"
Search Term Variations
Volume of search variations of ‘twitch’ has increased 12x or 1105% YoY

58. Three-Word Mantra
PARTICIPATE CREATE SHARE
58

59. The Education Revolution
59

60. Check Your Basement
60

61. THANK YOU!
61