The number of households that have TV’s has dropped for the first time since 1992. Much like in 1992, this could be a direct result of the recession and people being tighter with their budgets and spending.
That might bring smiles to the faces of advertisers and retailers because if we see a continued uptick in the economy we would in turn see an increase in the number of TV sets bought.
What if there is another reason for the drop? What if the core demographic that advertisers are clamoring after are not buying TV’s because they don’t have to?
A very simple explanation for the dip in households with TV’s is that young professionals and college-aged kids have become accustomed to watching movies and TV shows through their computer screens. Why would you need an expensive TV when you can watch your shows on Hulu, Netflix and ITunes?
These individuals are changing the landscape not only for TV watching and technology but also for advertising and how companies can actually reach the customers they intend to reach.
Media Lesson: It is not enough for companies to simply produce content in the same ways that they did in the past. Younger viewers need to be reached on many different platforms and technologies or else you will lose them as a base for your business.
It is not enough to advertise a new product on TV, radio or in a magazine anymore. If you are aiming for a younger demographic they might not even consume that form of media anymore. You must still hit traditional means to reach the widest possible audience but if your goal is to really penetrate a younger demographic of costumer you can not do that without social media.
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