Traditional media is rightly obsessed with “millennials”, the 18-34 year-olds who have grown up with the internet. They are up to one-third of the population of most of the major economies, and are the largest, ethnically and racially most diverse generation ever. They are already some 50% of the working population of many countries and, in a decade or so, will be 75% of the global workforce. Three quarters of millennials (or “digital natives”) own a smartphone, and they know about the world largely through the internet and social media. They are, to say the least, less attached to traditional print and broadcast media than their “baby boomer” parents. While Facebook, Twitter, and LinkedIn have increasingly become trusted news sources, traditional journalism has struggled to engage young people. Sky News recently revealed that only 18% of 16-24-year-olds in the UK trusted mainstream media to provide them with relevant information. It’s all causing a media generation gap which is threatening to swallow up decades of newspapers, magazines and broadcast channels…
Flashes & Flames calculates that the leaders of the world’s 39 leading media groups have an average age of 57 years. The five largest groups are led by men who average 72. This list includes the 91-year-old Sumner Redstone at the top of Viacom and 83-year-old Rupert Murdoch astride 21st Century Fox/ News Corp. Their respective deputies, Philippe Dauman and Chase Carey, are both 60.
Read the full piece at Flashes & Flames
