Television and Advertisers Missing the Mark - and Market - With Large Boomer Audience, TV Land's New Generation Gap Study Finds

Television and Advertisers Missing the Mark - and Market - With Large Boomer Audience, TV Land's New Generation Gap Study Finds

NEW YORK, Nov. 14 /PRNewswire/ -- Baby Boomers are frustrated that television and advertisers place too much emphasis on younger audiences and are missing the chance to connect with Boomers in their peak earning and spending years, according to the findings in TV Land's New Generation Gap Study.

The landmark study, which included input from more than 4,000 respondents nationwide, was commissioned by TV Land, a unit of Viacom Inc.'s (NYSE:VIA and)(NYSE:VIA.B) MTV Networks, to deepen the networks' understanding of Boomers and was conducted by San Francisco-based Age Wave under the direction of its president, Ken Dychtwald, Ph.D., the nation's foremost authority on Baby Boomers, and Harris Interactive(R).

Boomers expressed outright annoyance that television and advertisers place an undue emphasis on younger demographics. And, the study's findings reveal that Boomers are actually less likely to watch shows or respond to ads they feel ignore or disrespect them. A mere 3% of the Boomers polled describe themselves as extremely satisfied with TV programming options available to them. Over half (53%) claim to pay little to no attention to ads they feel target young adults while a third (33%) say that they are actually less likely to buy those products.

"TV Land's New Generation Gap Study reinforces what most of us have known intuitively all along: that the widely accepted practice of primarily targeting younger consumers is just plain wrong," explains Larry W. Jones, President, TV Land and Nick at Nite. "There is a clear and immediate need for marketers to rethink this approach when it comes to serving America's 78 million Baby Boomers, who are now in their power years."

"Boomers have transformed every phase of life they've gone through and they fully expect to be taken seriously as middlescent men and women," said Ken Dychtwald, Ph.D., America's leading expert on Baby Boomers and author of twelve books on aging-related issues. "This study serves as a wake-up call for all media looking to win the hearts, minds and wallets of the largest and most influential consumer group America has ever known."

TV Land's New Generation Gap Study found several potent themes including:

The Midlife Crisis is Over: Middlescence has Begun

Empowered and confident, 40-59 year olds have hit their stride and look forward to their future. 40-59 year olds are gearing up, not winding down.

- Boomers in their 40s and 50s are three times more likely to say the
best years are ahead of them, not behind them (76% best years are ahead
vs. 23% best years are behind them)
Compared to younger adults 18-39, Boomers are more likely to feel ...
- Liberated
- Accomplished
- Successful
- To have achieved balance, stability and comfort

In Middlescence, Boomers are Clearly the New Power Demographic

According to secondary data, in their peak earning years, boomers now have a total buying power representing $2.3 trillion in annual household expenditures, exceeding 18-39 year old households by more than 50%. This new Power Demo has the most money of any media audience and they are spending it today across more product categories and services than any other age group.

- Boomers have the highest discretionary income and are responsible for a
disproportionate share of purchases in nearly every consumer category
ranging from clothing and airline tickets to financial services and
pharmaceuticals to new autos and computer equipment and even cell phone
service.
- And Boomers are willing to spend far more than younger adults on
technologies and services that enhance their TV viewing experiences.

Generational Profiling - Prejudice Distorts Reality

Misperceptions about 40-59 year olds are pervasive in society. The public (including many television and advertising professionals) falsely believes that 40-59 years olds are over the hill or set in their ways. The study revealed quite the opposite.

- Even though Boomers have far more spending power, advertisers pay an
average of 25-50% more to reach younger viewers, according to secondary
data.
- Boomers are just as likely as young adults to say ...
- I'm always looking to learn or experience something new.
- I am looking for more ways to have fun in my life.
- I am seeking out experiences that give more meaning in my life.
- Young adults dramatically overestimate Boomers' resistance to change. In
fact, Boomers are almost four times more open to new ideas and experiences than younger adults think they are.

The TV Generation is Turned On, but is Increasingly Tuning Out

Millions of Boomers are growing increasingly dissatisfied with media that ignores them and are tuning out.

- Only 3% of Boomers say they are extremely satisfied with TV programming
options available to them.
- Study respondents believe that nearly two-thirds of TV programming and
television advertising is targeted at those under 40.
- Over 1/3 of Boomers - representing more than 25 million men and women -
are dissatisfied with TV programming options.
- Boomers are significantly more likely than young adults to say TV does a
poor job of:
- Reflecting the values of their life stage
- Providing characters relevant to their life stage
- Providing stories and plots relevant to their stage of life
- Reflecting their lifestyle preferences
- Half of Boomers pay minimal attention to ads targeting young adults; a
third are actually less likely to buy the advertised product.

If You Build It, They Will Come: Bridging the Generation Gap

This new "Power Demographic" is hungry for media content and products that meet their needs. If you give Boomers what they want and speak to their interests, preferences and aspirations, they will tune in and turn on. Smart marketers can reap the benefits of this powerful opportunity.

- Boomers are just as likely as young adults to be open to buying new
products and services (71%/71%) and to be influenced by effective
advertising (55%/55%).
- Adults in their 50s are more likely than those in their 40s to say they
want to see more ads for products and services people their age want to
buy.
- Boomers who are most influenced by advertising describe themselves in
positive terms such as ...
- Looking for ways to have more fun
- Believing it's important to give back to society
- Seeking experiences that give more meaning to life
- Believing that this is the time in their life when they should
accomplish something significant.
- The following elements will draw Boomers to programming ...
- Well developed plots that tell a great story
- Great writing
- Humor they can relate to
- Satisfying, interesting and even unpredictable programming

According to Tanya Giles, TV Land and Nick at Nite Senior Vice President of Research and Planning, "The TV Land New Generation Gap Study forces everyone in media and advertising to take a hard look at how an overemphasis on youth may be turning off the largest and most affluent generation in history. This generation is tired of being seen through an antiquated prism of what it means to be over the age of 40. "

On a lighter note, the Boomers polled were asked about the best TV shows
and ads of all time. Among Boomer Men, the top shows of all time are:
- M*A*S*H
- Star Trek
- The Andy Griffith Show
- 24 tied with . . .
- Seinfeld

Among Boomer Women, the top shows of all time are:
- CSI
- M*A*S*H
- Law & Order
- I Love Lucy tied with . . .
- ER

When asked about all-time favorite TV commercials, the largest percentage of both Male and Female Boomers cited Wendy's "Where's the Beef?" ads and Budweiser Frogs commercials, respectively.

Among Boomer Males, the favorite commercials of all time are:
- Wendy's "Where's the Beef?"
- Budweiser Frogs
- Coke with Mean Joe Greene
- GEICO ads
- Coke -- "I'd Like to Teach the World to Sing"

Among Boomer Women, the all-time favorite commercials are:
- Wendy's "Where's the Beef?"
- Budweiser Frogs
- GEICO ads
- Coke -- "I'd Like to Teach the World to Sing"
- Coke with Mean Joe Greene

TV Land enlisted the services of Age Wave to deepen the network's understanding of its target audience, the majority of whom are Baby Boomers, to gain further insights into how to program and market more specifically to their tastes and needs. Boomers are finding themselves at the pinnacle of financial success, yet few marketers speak directly to this generation, which is largely defined as those born between 1946 and 1964. The survey was conducted by Harris Interactive(R) and asked 4,220 U.S. adult respondents about Boomers' perceived social influence and how they consume a variety of entertainment choices.

Study Methodology

This survey was conducted online within the United States by Harris Interactive on behalf of TV Land and Age Wave between April 28 and May 15, 2006 among 4,220 adults (aged 18 and over) -- 1,655 were 40 to 59 years old. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents' propensity to be online. With a pure probability sample of 4,220, one could say with a ninety-five percent probability that the overall results would have a sampling error of +/- 1.51 percentage points. However, this does not take other sources of error into account. This online survey is not based on a probability sample and therefore no theoretical sampling error can be calculated.

About Age Wave

Age Wave was created in 1986 to guide leading companies and government groups worldwide in product and service development -- geared to aging boomer and mature population segments. The company's far reaching explorations and innovative solutions have fertilized and catalyzed a broad spectrum of industry sectors from vitamins and cookies to automotive design and retail merchandising to mutual funds and health insurance. (www.AgeWave.com)

About Harris interactive(R)

Harris Interactive is the 12th largest and fastest-growing market research firm in the world. The company provides research-driven insights and strategic advice to help its clients make more confident decisions which lead to measurable and enduring improvements in performance. Harris Interactive is widely known for the Harris Interactive Poll, one of the longest running, independent opinion polls and for pioneering online market research methods. More information about Harris Interactive may be obtained at www.harrisinteractive.com.

About TV Land

Now seen in over 88 million U.S. homes, TV Land is a division of MTV Networks. TV Land's program mix features popular dramas, sitcoms, westerns, Retromercials and a TV-referential interstitial environment, all programmed with a specific audience in mind -- the first generation of Americans to grow up watching television and features all-time Classic hits like All in the Family, I Love Lucy, The Andy Griffith Show, and Bonanza.

MTV Networks, a division of Viacom International Inc. (NYSE:VIA)(NYSE:VIA.B), owns and operates the following television programming services -- MTV: MUSIC TELEVISION, MTV2, mtvU, VHI, NICKELODEON, NICK at NITE, COMEDY CENTRAL, TV LAND, SPIKE TV, CMT, NOGGIN, MTV INTERNATIONAL and THE DIGITAL SUITE FROM MTV NETWORKS, a package of 12 digital services, all of which are trademarks of MTV Networks. MTV Networks also has licensing agreements, joint ventures, and syndication deals whereby all of its programming services can be seen worldwide.

About Viacom

Viacom is a leading global entertainment content company, with prominent and respected brands in focused demographics. Offering programming and content for television, motion pictures and digital platforms, Viacom's world- class brands include MTV Networks (MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land, Logo and more than 120 networks around the world), BET, Paramount Pictures, Paramount Home Entertainment, DreamWorks and Famous Music. More information about Viacom and its businesses is available at www.viacom.com.

PRESS CONFERENCE AVAILABLE ONLINE BEGINNING WEDNESDAY, NOVEMBER 15. PLEASE E-MAIL TV LAND CONTACTS FOR THE LINK.

Source: TV Land

CONTACT: Paul Ward, +1-212-258-7704, or Vanessa Reyes, +1-310-752-8081,
both of TV Land

Web site: http://www.nick-at-nite.com/
http://www.viacom.com/
http://www.agewave.com/

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