According to the latest Cartoon Network New Generations study, not only is Australian children's media consumption on the rise, they now represent a powerful fiscal demographic in their own right, wielding an annual spending power of $1.8 billion.
The New Generations study, now in its 12th year, surveyed a group of more than 1,000 individuals, comprising children aged 4-14 and their parents, to gain insights into kids’ media habits and trends.
Figures for the study shows Australian children have an average annual income of $556, a number that includes gift money accumulated throughout the year.
The report revealed 92 per cent of children watched TV during the past month – a rise of eight per cent – with most tuning in to watch cartoons, making TV the top media consumption activity for kids.
The report also highlighted that TV ads are still the most effective means to reach children, with 58 per cent of parents surveyed cited TV as the most influential advertising platform for kids. The study has shown kids prefer ads that feature comedy and characters. The top three cited by respondents are Captain Risky (Budget Direct), Unicorn Pooping (Squatty Potty) and McDonald’s taking the top three positions.
Three times more kids find ads on TV funny, compared to ads on social media, with twice as many children noticing ads on TV compared to social media. The number of kids watching and posting videos online has increased by 33 per cent, with 86 per cent jumping online in the past month, up 12 per cent.
Social media usage is found to increase with age, multiplying by five times as children grow from 7-9 years old to 13 years of age. Facebook is still the number one platform for kids, but children spend more time on Snapchat. Almost a third of Snapchat users spend up to an hour and a half on the platform each day, compared to a quarter of Facebook users.
The key concerns of Australian parents in relation to their kids’ financial futures reveals that 70 per cent of parents' primary concern about their children's future revolves around thetheir kids’ capacity to buy property in the future, followed by children’s ability to save money (56 per cent), afford university tuition (50 per cent) and support a family/kids of their own (46 per cent).
“This year, the theme of the study was ‘connecting with kids’ and it was interesting to see that, even as children are creating their own online video content, and despite the popularity of social media, TV ads are still significantly more effective for reaching them,” David Webb, Turner Asia Pacific Research director said.
“Also, that regardless of the platform, relatable and humorous content generally cuts through and resonates with young audiences – a demographic with considerable purchasing influence.”