North American millennials will spend over $62 billion on media content in 2015, according to Deloitte, despite being dubbed as the 'generation that won’t spend'.
The company said that on average the 83 million millenials in the US and Canada will spend $750 per person on paid content, but may be choosier and more-price sensitive than young audiences in the past.
However, the cumulative media spend is less than five percent of their total expected spending of $1.45 trillion.
Deloitte also commented that millennials are spending less on traditional media than they did in the past, and less than older generations. A sixth of US millenials, which equates to just over 12 million, is likely to subscribe to a print newspaper in 2015, the company predicted, paying around $120 per year, which means the average millenial will spend $20. American 18-34 year olds are half as likely as the national average to subscribe to a print newspaper, but spending has declined rather than ceased.