Down To Business: New Media for Professional Millennials
- May 03 2016
- Media & Entertainment
There are more professional Millennials than ever before, and new media is being created to target, and educate, the rising workforce.
Last week, we looked at how Millennials are shifting the workplace, and noted that Millennials represent 35% of the U.S. workforce, and will make up nearly 50% by 2025. They’re changing the way work is done, and there is little doubt that Millennials have careers on the brain. When we looked at young consumers’ hopes for 2016, 37% of 18-33-year-olds said they hoped to get a new job, and 22% hoped to get a promotion at work—they were the two top hopes of the age group for the year. Earning more money also went up to 38% for 18-33-year-olds in 2015 from 29% in 2014. But while they’re on their way to becoming the dominant generation in the workforce, and they’re focused on advancing up the ladder, there isn’t currently much media that speaks to the new generation of professionals—but that’s beginning to change. Clearly sensing the opportunity—and seeing the lack of current content—new media is being created by brands old and new to target, and educate, Millennial professionals. Here are three to note:
Getting and making the most of their paychecks might be on their minds, but many Millennials don’t know how to manage that money. A PricewaterhouseCoopers survey revealed that individuals born between early 1980s and mid-1990s have the “lowest level of financial literacy,” and 41% of 18-to-34-year-olds recently polled by Bank of America and USA Today claim to be “chronically stressed,” when it comes to money. Enter Cheddar. A former president of BuzzFeed is planning to live-stream business and financial news for Millennials on the new digital channel Business Insider calls, “CNBC for Millennials.” Finance is an “under-covered area,” for younger viewers and Jon Steinberg’s new startup will cover everything from stocks to companies like SpaceX. The live news network will feature on-air personalities in relaxed dress codes who will all be under 40-years-old. Steinberg believes that finance news will appeal to young consumers, “‘a group of people where technology is the driving cultural force in their lives.’”
“They told you all your life that you’re lazy, entitled, & moving too fast, but you never listened.” That’s the message that greets visitors on Smart Millennial Business, a podcast (and site) created for Millennials struggling against what the founders feel is a broken system. Founded by 26-year-old web designer Michael Berg and 43-year-old former investment banker Patrick Truhlar, the podcast and website is meant to inspire financially struggling Millennials by teaching them “how to take ownership of their own professional development.” Smart Millennial Business claims that the government and formal education has failed the Millennial generation. One section of the site tells Millennials, “College left you ill-prepared for a slow climb up a corporate ladder that you’re not even sure is worth the struggle. We’re hacking the system of entrepreneurial success so that you can learn faster, get paid what you’re worth, and negotiate better.”
Forbes is a business media titan, and they’re turning their attention to Millennials—specifically professional Millennial women. Their new network of ten podcasts are focused on content for Millennial women who “embrace the entrepreneurial spirit.” According to Forbes, podcasts were the chosen medium because, “Millennial women are responding to this rich narrative format,” and “Today if you see a woman with headphones, she is increasingly tuning in to a podcast with her listening options ranging from the oddly entertaining to the empowering.” Podcasts include, Two Inboxes (“Interviews with the Side Hustle Generation”), Mentoring Moments (“Women You May Never Meet Will Become Your Mentors”), and Hiding In the Bathroom “Successful Entrepreneurs on the Strategies and Tips You Won’t Learn in Business School”). The range of podcasts will include personal stories from professional Millennials, and advice and resources to help professional Millennial females.