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indiantelevision.com Team
MUMBAI: The economy is the top factor impacting the Millennial generation today, with 68 76 per cent feeling personally touched by the global economic crisis. This percentage increases in Spain (86 76 per cent), Italy (85 76 per cent), and Greece (80 76 per cent). But despite significant economic concerns, the vast majority of Millennials worldwide demonstrate a strong sense of happiness and optimism.
Latin American Millennials report the highest levels of happiness, in countries like Mexico, Argentina and Brazil.
US media conglomerate Viacom and its Viacom International Media Networks (VIMN) division, have unveiled in-depth findings from its new study, "The Next Normal: An Unprecedented Look at Millennials Worldwide," which provides the first truly global portrait of this highly influential demographic.
The findings were presented at the Monaco Media Forum by Viacom Media Networks executive VP, chief research officer Colleen Fahey Rush.
The study spans every continent and delivers insights into the attitudes, values, aspirations and perspectives of young people (ages 9-30) from 24 countries including India, Argentina, Australia, Brazil, Canada, China, France, Italy, Japan, Mexico, South Africa, the UK and the US. In total, this project included 15,000 interviews, in-depth explorations and expert contributions/commentaries.
Rush said, "?The Next Normal? is the broadest single study of the Millennial generation to date. It is a truly detailed understanding of this complex generation from all corners of the world, and is without a doubt the definitive guide to this demographic?s evolution. These insights will help inform our content and further strengthen our connections with Millennial audiences around the globe."
VIMN VP research, insights Christian Kurz said,"We have a wealth of research on how young people approach life, what they consider important and how they cope with challenging situations. This study builds on Viacom?s already significant leadership in understanding our audiences and is a perfect example of our commitment to extending this knowledge and expertise globally."
Following is a snapshot of additional key findings from the study:
*Millenials Suffer From Job Insecurity - Economic concerns have resulted in a legacy of fear around job security and doubts about upward mobility. *Unemployment outweighs world hunger as the top global issue that young people want to see solved. * Almost half of young people (49%) believe that job security will continue to get worse.
* 78 per cent would rather have a minimum wage job than no job at all. *While 38 per cent of young people in 2006 strongly agreed with the statement, "I will earn more than my parents," that percentage is down to 25% in the post-crisis era.
Amidst all these concerns, the generation finds reasons to be happy. Spending time with family is the top driver of happiness for Millennials today. Forty-five percent of all 9-30-year-olds globally say their No. 1 best friend is someone within the family.
"Thanks to the importance Millennials place on family bonds, the family unit today is closer than ever. ?The Next Normal,? based on the widest ever cross-section of Millennials, confirms that this emphasis on family is a global phenomenon," said Kurz.
Friendships, both real-life and online, are another key driver of happiness. Among Millennials, there is a trend towards smaller circles of real-life friends compared with online friends, which are skyrocketing.
Over the past six years, Millennials have maintained about the same number of best friends, but their wider circle of everyday friends is shrinking.
On the other hand, Millennials average well over 200 online friends. In the past six years, there has been a significant jump in the number of online contacts whom they consider friends, but have never actually met in person.
Technology Doesn?t Define, It Enables: Rather than defining the Millennial generation, technology is more of an enabler. If asked, a Millennial might say, "Technology doesn?t make me who I am. It lets me be who I am." Technology underpins relationships and plays an important role in sustaining happiness and broadening horizons.
? Three quarters of Millennials believe social media has a beneficial
effect on relationships with friends.
? 73 per cent of Millennials say access to the Internet changes the
way they think about the world.
Pride And Tolerance: Millennials are displaying a growing sense of
national pride and interest in maintaining local traditions. At the
same time, they have an increasingly open and tolerant view of other
countries and cultures.
? 83 per cent agree "I?m proud to be [X] nationality," up from 77 per
cent in 2006.
? 76 per cent agree that it?s important to maintain their country?s
traditions, up from 68 per cent in 2006.
? 73 per cent think it?s great to have people from other countries
coming to live in their respective home country, up from 51% in 2006.
? 86 per cent describe themselves as tolerant.
? 84 per cent agree "my age group has the potential to change the
world for the better."
"A key priority for VIMN is to provide its audiences around the world with ?glocal? content --programming that strikes the right balance between global and local themes. Our findings from ?The Next Normal? indicate a truly positive display of ?glocalisation? in action among Millennials at an even deeper level," continued Kurz.
The Next Normal: ?We" Versus "Me"
This study indicates that ?The Next Normal? is much more ?we? than ?me?. Key defining traits for the Millennial generation include a sense of global community, newfound tolerance and flexibility, increased creativity and a powerful desire to share and connect.
? 87 per cent are actively curious about the world.
? 87 per cent apply the phrase "sharing and connecting" to themselves.
? 85 per cent describe themselves as able to adapt quickly to change.
? 93 per cent globally believe it?s our responsibility to treat all
people with respect, regardless of race, gender, religion, political viewpoint or sexual orientation.
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