Tapping Into the Power of Generation 50+ - Hanna Gryncwaig-RLTV

Welcome RLTV Life Redefined our newest MediaBizBloggerDramatic demographic shifts are affecting today39s television audiences and should change the way we think about our key advertising markets The 18 to 49yearold age group has been traditionally coveted by advertisers who increasingly seek the evenyounger Millennials but it39s the baby boomers who should be highly prized They grew up with television and remain loyal to it and their buying power is greater than everGeneration 50 consists of 100 million consumers compared to the 76 million Millennials in America born between 1980 and 2000Its members have all aged out of the 18to49 demographic but their buying power hasn39t declinedGeneration 50 spends 3 trillion annually Its members stand to inherit 116 trillion over the next 20 years amp8211 more than any generation in historyThey account for 59 percent of all US spending and have roughly 25 times the average per capita discretionary spending of younger households They spend 75 percent more than Millennials per vacation amp8211 that39s 80 percent of all US luxury travelBoomers are also the fastestgrowing entrepreneur group in the country In the next decade more new businesses will be started by people over 50 than any other segment of our nationGeneration 50 is devoted to television having watched it all their lives and especially because programming reflected their lives and lifestyles When boomers and seniors were in their 20s and 30s the characters on their favorite programs such as quotI Love Lucyquot and quotDynastyquot were in their 20s and 30s tooToday shows like quotThe Big Bang Theoryquot or quotHow I Met Your Motherquot do not resonate with Generation 50 as they are not relevant to them Boomers and seniors still watch these shows but they39re no longer connected to the content because it doesn39t reflect their livesAccording to Harris Interactive more than 80 percent of adults over the age of 40 say they have a hard time finding shows that reflect their lives Likewise nearly twothirds of Americans feel that most TV programming is targeted toward people under 40Millennials don39t share that devotion to television or to its advertising Having grown up with the Internet their commitment to television is different Even when they watch television shows many choose to watch online or through other nontraditional broadcast outlets In addition comScore research released earlier this year shows that Millennials are more difficult to persuade through television advertising than older viewersWe live in a world of entertainment that is preoccupied with the newest the latest and the hottest but we can39t overlook television39s most loyal supporters simply because they have aged past 49 especially when they haven39t lost their buying power In an age in which we widely proclaim that quot60 is the new 40quot we can39t let outdated perceptions of age blind us to the sizeable Generation 50 marketMore and more television networks are recognizing the demand for relevant programming that taps into this powerful generation and television advertisers should seek programming that attracts these consumersAt RLTV our programming speaks to Generation 50 And as we found in a recent study by Millard Brown this is a generation that has been accustomed and expects to being paid attention to According to the study boomers and seniors seek and respond to programming that addresses their interests and quotfeels rightquot In return they pay more attention to the shows that apply to them support advertisers that create ads for them rather than for younger viewers and fully engage with relevant contentFor advertisers this means that if their ad campaigns speak directly to Generation 50 boomers and seniors will respond with all the impact and influence that their large spendable income affords them And since they are much wealthier than Millennials this is a response that networks advertisers and businesses cannot afford to missHanna Gryncwajg is responsible for all advertising sales content creation and strategic sales opportunities for RLTV and RLTV as well as related sales operations She can be reached at hgryncwajgrltvRead all Hanna39s MediaBizBloggers commentaries at Life RedefinedCheck us out on Facebook at MediaBizBloggerscomFollow our Twitter updates MediaBizBloggerThe opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaBizBloggerscom management or associated bloggers MediaBizBloggers is an open thought leadership platform and readers may share their comments and opinions in response to all commentaries

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Tapping Into the Power of Generation 50+ - Hanna Gryncwaig-RLTV

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