Verizon Report Says Millennials Spend $1.3 Trillion a Year

By Michelle Maisto  |  Posted 2014-03-07 Print this article Print

The devices Millennials turn to for television watching are, respectively, laptops (68 percent), desktops (44 percent) tablets (29 percent) and smartphones (31 percent).
Television sets connected to the Internet figure last, at 20 percent. Non-Millennials, too, turn to desktops (52 percent), laptops (47 percent) or tablets (25 percent) more often than televisions or smartphones (each 18 percent).

What Millennials Use

Non-Millennials' use of sites like Reddit, Imgur, 4chan and 9gag "barely register," said Verizon. For example, while 24 percent of Millennials use Reddit, only 7 percent of non-Millennials do. (Microsoft's Bill Gates, of course, is among those few.)

The apps they use the most are Facebook, Twitter and Pinterest, respectively, but the widest gaps in use between the groups was seen in the use of Instagram (40 percent of Millennials, versus 11 percent of non-Millennials), Vine (25 percent, versus 7 percent) and Snapchat (27 percent, versus 6 percent).

More than half of Millennials are avid or regular gamers, and play console-based or PC games more than 12 hours a week; they're also more likely to play a broader range of fantasy sports, Football most of all.  

Netflix is their favorite source of online content, but Redbox, HuluPlus and Prime are other options (though more non-Millennials go the Amazon route).

Verizon's Advice to Digital Media Services

Verizon's advice to digital media services is to be prepared to support multiple devices, marathon-length sessions of video watching (who can watch just one House of Cards?), offer the best possible quality of service and know that Millennials are willing to pay for what they deem to be the best.

Without a digital strategy, says the report, companies risk "losing these brand-loyal consumers who have a loud voice in the marketplace" and, of course, many, many dollars.


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