From innovation to expectation — how M&E leaders are responding to Gen Z
Today, the potential of media and entertainment companies to understand their customers is greater than at any time in history. Successfully capturing insights from an array of sources and translating them into viable products, services and business models will go a long way in defining the leaders of today and the leaders of tomorrow.
Are you ready for Generation Z, their unique attitudes, preferences and how they consume content?
Generation Z is different from anything we’ve seen before.
They are the first to be digitally native and grow up using:
- Social media
- Mobile technology
- Mobile video
Technology aside, Generation Z also has refreshingly different attitudes. They are more entrepreneurial, they grew up with search engines and like to discover content for themselves. They also like to be involved in the process, contribute to the solution and be more immersed in experiences.
The step change for M&E companies from traditional business-to-business (B2B) models to direct consumer relationships is focusing attention on the need of more granular insight. Nowhere is this more apparent than the unique behaviors and preferences of Generation Z.
Where are M&E leaders investing today so they are the M&E leaders of tomorrow?
To better understand where investments are being made, we conducted proprietary analyses of two groups:
- Today’s leading telecoms, technology and media companies
- The next generation of companies in those sectors
We found that in search of customers, industry leaders are increasingly investing in common areas.
Additionally, our research shows M&E executives’ confidence in the broader economy and are likely to continue investing. Eighty-one percent of M&E executives say the global economy is improving, compared with 52% who said that a year ago. Read more about these trends in the Media & Entertainment 13th Capital Confidence Barometer.
The Internet of Things (IoT) is a reality, but how will M&E leaders capitalize?
For M&E companies, IoT offers huge potential. In its simplest form, IoT is the proliferation of sensors to capture vast and varied data about customers; their behaviors, emotions, sentiments, their physical reactions and well-being.
Utilizing data to better understand customers and create experiences is how the IoT unlocks our understanding of Generation Z. It will make them part of the solution, help to anticipate their needs and build respect and loyalty, which they crave from brands. Success relies on combining each of these three efforts:
- Doubling down on data
- Telling stories and building experiences
- Looking for partnerships (acquisitions)
Download a PDF copy of From innovation to expectation — how M&E leaders are responding to Gen Z to learn more.