laura clark: audience: nothing has changed
DESCRIPTION
Laura Clark Senior VP, Frank N. Magid Associates Laura Clark is senior vice president and leader of Magid's local media business. Her work includes coordination of the company's strategic partnerships with several media industry leaders. She is working with corporate and station leaders to determine the best strategy and resource deployment for success on multiple media platforms in the future. She is also a member of Magid's Millennial Strategy Group® team, providing strategic guidance to clients ranging from media companies to retailers. Clark is a senior member of Magid's strategic planning practice and is a frequent presenter at industry and client conferences across the country. She and members of the team provide due diligence to a wide range of clientele from private equity to strategic partners.TRANSCRIPT
CONFIDENTIAL AND PROPRIETARY © 2014 by Frank N. Magid Associates, Inc. Any duplication, reproduction or usage of this document or any portion thereof without the written consent of the firm is prohibited.
Audiences: Nothing Has ChangedLaura Clark, Frank N. Magid Associates, April 2014
2
Magid’s Experience Informs Its Approach
Magid identifies business solutions through a combination of consumer insight, operational experience, and perspective that translates to results. Our service teams have developed strong points of view through real world experience and scores of engagements across many verticals.
Sports• Teams,
leagues, media
distribution strategies
Internet• Established
players, startups, cross-platform
integration
Mobile• Technology, sales
and advertising strategies, content
Traditional Media
• Broadcast, network, cable, distribution
• Newspaper, magazine• Transitional strategies
Private Equity • Asset
valuation• Investment
strategies
Consumer Brands
• CPG, food and beverage, C-
store, retail, travel
Gaming• Console,
casual online, MMO,
mobile gaming
3
The Audience Is Changing
Meet The “Plurals”
Millennials Aren’t Kids Anymore
4
Millennials Have Taken Over the 18-49 DemoMagid Generational Strategies Millennial Life Stage Segmentation®
0%
20%
40%
60%
80%
100%
43
20
914 14Teens ~12 m, Average
age: 17(in high school)
College ~12 m, Average age: 23
(in any college)
In Flux ~8 m, Average age: 25
(Not working or married, no kids)
Stable ~17 m, Average age: 28
(Working, no kids)
Parent ~37 m, Average age: 30
(Child under 18 in the home)Millennials
(Ages 17-36)
87 million; 27% of U.S. pop
5
News Consumption Is Changing
Every Generation’s Consumers are:
• Less Loyal• Use more platforms• Mixing multiple brands• Trust the media less• They don’t make a point to find news
because so much of it finds them.• The good news: They believe they spend
more time with news and information.
6
A Credibility Crisis Is On The HorizonOnly Millennials rank social and mobile platforms higher on credibility than other age groups
How credible is each of the following platforms as a news source?
18-24 25-34 35-44 45-54 55-640%
10%
20%
30%
40%
50%
60%
70%
80%
TV News-castOnlineNewspaperSmartphone
7
The Pace of Change Is ChangingPercent of US Households
Source: http://sufiy.blogspot.com/2010/05/electric-cars-adoption-rate-washing.html (IBM, NY TIMES MAGAZINE)
8
They Realize News Will Become More Important
Please indicate how much you agree or disagree with each of the following statements: News will become more important to me in the future.
63%18-34s agree that news will become more important to them in the future
9
What Can Get Millennials To Watch More News?Infrequent local TV news viewers say more relevant content would increase their viewership
For you, personally, please indicate how likely each of the statements below are to make you watch more television news.
Stories that are more relevant to
me
0%
20%
40%
60%
37
49
43 43
38
32
Livelier, fast-pace, entertaining
newscast
35-44
25-34
18-24
10
Platforms Change But The Mission Doesn’t
Laura ClarkSenior Vice [email protected]
12
Are We Evolving Our News Operations To Deliver?
Gathering
Producing
Presenting
Budget % Today
Ideal Budget
Distribution