The New York Times Magazine has a small section called “That Should Be a Word”. Recently they invented the word mespoke.
MESPOKE: (me-SPOKE), adj. Tailored exactly to one’s lifestyle. “Dylan was a member of the mespoke generation: From his iPod playlist to his favorite shot of espresso at his neighborhood cafe, he never had to experience anything that wasn’t his explicit choice.”
The TV world is being hit hard by Millennials and the mespoke generation. Traditional TV with its commercials, strict time-frames, and inability to be customized is quickly losing ground with the youth of today. Nielsen reports that younger viewers are tuning out at more than twice the rate than they have in previous years. The New York Post recently reported that the median age of today’s TV audience is 50 years old. Executives in the $80 billion TV ad market are biting their nails as they lose their target audience at an alarming rate.
Millennials (born between 1977 and 1995) now out number Boomer’s (born between 1946 and 1964), and are set to take over one third of all retail spending in the next five years. Soon, they are expected to make up 50% of the nation’s workforce. Networks are scrambling to find a place in the millennial generation’s less “traditional TV” viewing habits. Standalone subscriptions to services like HBO GO, Hulu, Netflix, and Roku are on the rise and viewership increases are in double digits yearly. To a generation that has never known a world without Internet, these more affordable and flexible alternatives are ideal.
Ultimately internet speed, reliability, and affordability will be the answer to the TV question as the traditional TV industry continues its decline. Buffering will be as an unacceptable as the 100s of extra channels that are seldom viewed. Digital natives are looking for an alternative that listens rather than dictates. Options like our solutions packages (with local channels and 100mbps internet for a more affordable price) are already set to cater to viewers with more independent viewing styles. ALLO and our fiber optic technology will be the quiet contender ready for a new generation of challenges.