Millennials may have no problem paying for Netflix, Pandora or the most recent video games, but when it comes to news content they are surprisingly thrifty.
That’s the result of a report published by The Media Insight Project, a joint research initiative by The American Press Institute and the AP-NORC Center for Public Affairs Research. Based on a survey of 1,046 Americans aged 18-34, the report shines a light at millennials’ habits and attitudes in terms of news consumption. According to the survey results, the digital generation is much more inclined to spend money on entertainment than to pay for news content.
It’s not that they don’t value information, according to the report it’s very important for them to stay informed, it’s the way they consume news that has changed fundamentally. While previous generations had to rely on newspapers and magazines to stay on top of current events, Millennials have a plethora of news sources at their disposal, many of them free and available at the touch of a finger. 82 percent of Millennials get most of their news from online sources with social media playing an increasingly important role. Facebook in particular is a popular tool to stay informed throughout the day, although dedicated news media remain the primary source for “hard” news topics such as the economy, foreign affairs and national politics.
This chart illustrates the willingness to pay for media among millennials.
You will find more statistics at Statista