WHAT’S THE MILLENNIALS INTAKE ON THE CURRENT AUDIO-VISUAL TREND IN THE WORLD?

What is audiovisual media?

• Audiovisual also known as AV is electronic media possessing both a sound and a visual component, such as slide-tape presentations, films, television programs, corporate conferencing, church services, and live theatre productions.
• Audiovisual service providers frequently offer web streaming, video conferencing, and live broadcast services.

Transaction in the broadcasting industry

Once there was a time when the question was “Will the broadcasting industry get digitally transformed?”, but the scenario has changed now. Seeing these opportunities presented by the audio-visual systems, new players are joining the market, hence, capturing consumer’s mind with new initiatives and grabbing their wallets. The broadcasting industry has seen rapid changes and modification in the recent years.

Time has changed now. Those days are gone when people used to listen to theater radio , which were radio-based distribution systems allowing listeners to listen to live opera and theatre performances over radio broadcasting also grew to include radio newspaper services for news and entertainment programming These -based services were the first examples of electrical/electronic broadcasting and offered a wide variety of programming. Then came the threats where people used to watch the advertisement of a film on the road-side billboard or on their newspaper and then go to a movie hall to watch the movie, that is when people got to watch these operas live where they could listen to the audio and watch the video at the same time.Then came the television which was the game changer in the broadcasting industry people could watch movies and television shows in their homes.

Wireless media is the new upcoming trend

But Now, the audience has changed a lot and so is their demand. People are now demanding more curated content. And the trend is already growing at a very successful pace. It is a procedure where the platform suggests what the audience would like to watch or subscribe. When these are used effectively, it can create new audiences instantly for the provider’s new shows and products.

Gone are those days when people had to pay for all 300 channels which their satellite or cable TV channel providers used to give though the viewer actually watches only four to five channels. Now the definition of the entire broadcasting industry has changed. The companies like Netflix and Hulu have brought in the new generation of wireless entertainment. The new users are going online. From YouTube, Netflix, Hulu,Amazon to podcasts and even the cable companies are going wireless and replacing traditional offerings with special and customized packages to attract more consumers.

But what is the millennials intake on the current trend?

Younger consumers have, generally, displayed different priorities, preferences, and behaviors than their older counterparts. In particular, today’s millennials are tech-savvy, experience-focused, highly connected, and receptive to new ideas. According to MBLM’s 2019 Brand Intimacy Study, millennials also have the strongest emotional connection with media and entertainment brands.

Millennials have been called the “Me Me Me Generation.” That label gives us insight into the strength of media and entertainment. Those brands let us reimagine, as they offer fantasy, creativity, and pleasure for moments or hours of distraction. Media and entertainment brands let us take time for ourselves to watch, to play, and to pretend.ost millennial men prefer and bond with gaming brands, whereas most millennial women prefer movies and programmable content. The top two most intimate media and entertainment brands for millennial men are Xbox and PlayStation. In contrast, millennial women rank Disney and Netflix highest.

Additionally, on average, nearly half of millennials (47%) feel an immediate emotional connection with media and entertainment brands, suggesting there is fast impact. In addition to entertainment being the leading industry for millennials, they appear to be growing more attached to their intimate media ad and entertainment brands. Given that this is an industry that can be expensive, this result is significant and shows the degree to which people are unwilling to live without their favorite intimate brands.

Most millennials interact all day almost entirely through a screen. Over the past several years we’ve noticed that brands with a strong presence on smartphones generally outperform those that don’t. Content services such as Netflix, Amazon Prime, and YouTube have leveraged the popularity and versatility of smartphones to be in consumers’ pockets at all times and play an increasingly integral and intimate role in their daily lives.

Indeed, results from the 12th edition of Deloitte’s Digital Media Trends Survey indicate that the behaviors of Gen Z (ages 14–21), millennials (ages 22–37), and Gen X (ages 38–53) are converging. For example, in 2017, 70 percent of Gen Z households had a streaming subscription, closely followed by millennial (68 percent) and Gen X (64 percent) households. Similarly, half of Gen X respondents reported that they play video games frequently, almost matching Gen Z and millennial respondents.

The transitions in the broadcasting industry has only benefited the millennials even if they are Mobile-first Viewers, Power Streamers, Highly Subscribed, Hybrid Adopters, or Linear TV Consumers.

Conclusion:

As technology becomes increasingly democratized and accessible, media and entertainment companies and cable TV companies are shifting from focusing on the usual indicators to looking more closely at media consumption behavior patterns.

The undeniable intimacy between millennial consumers and their preferred media and entertainment brands, along with the growth of the category, suggests it will continue to have success. Millennials carry significant buying power, as well as the ability to influence and set trends for both older and younger generations. By offering millennials multimedia experiences, opportunities for both on-demand escape and moments of indulgence, brands can enjoy great success in building Brand Intimacy, creating stronger bonds, and driving real results.