& MEDIA TRENDS
MILLENNIALS & GEN Z MAKE UP 51% OF THE ADULT POPULATION
As of 2020, Millennials and Generation Z now make up 51% of the U.S. adult consumer population. These generations grew up streaming, show little interest, or never tuned in to broadcast AM/FM radio, cable, and satellite TV.
THE TIPPING POINT
As of 2019, Digital advertising in the U.S. at $129.34 billion, was bigger than television, radio, and newspaper’s traditional ad spend at $109.48 billion.
While broadcast AM/FM radio, cable, and satellite TV continue to plummet, Google and Facebook emerged with the largest advertising spend in the US.
DIGITAL DISRUPTS CABLE & SATELLITE TV
Consumers have lots of commercial-free, low-priced, or no-priced content choices. Smart TVs streaming Netflix, Hulu, Amazon, YouTube TV… replaced costly cable and satellite TV.
The number of cord cutters and cord nevers has tripled in the U.S. since 2014 from 15.6 million to 50.4 million households (50% of TV consumers) this year.
DIGITAL DISRUPTS AM/FM BROADCAST RADIO
In Q4 2020, Streaming led music listening with a 33.2% share compared to traditional radio, which ranked second with 15.9% share. Streaming outperformed radio in each of the last 5 years.
In the mid 2000’s, AM/FM Broadcast radio lost the monopoly on the dashboard and on music ratings in the US.(Millennial & Gen Z) Listeners have replaced traditional radio with online streaming (Pandora, Spotify, Apple Music…). Now radio is the latest industry facing massive disruption from the digital age.
DIGITAL + BILLBOARDS EXPLOSIVE GROWTH
Out-of-Home (OOH) Billboards is now the #1 driver of web traffic, social media and digital activations in the U.S., over all other traditional media.
As a result,
• OOH Billboards, is the only traditional medium in the U.S. whose sales revenue has grown consecutively every quarter for the past 10 years;
• The world’s largest 25 tech brands, including Amazon, Apple, Google, Facebook, Netflix, and Uber, are now in the top 100 users of billboards in the US;
• OOH is now forecasted to grow 71% from $6.9 billion in 2020 to $11.8 billion by 2024, the highest rate of growth of any traditional medium in the US.