As if advertisers needed more proof that millennials are avoiding traditional media, a new study from marketing startup Crowdtap and research company Ipsos reveals just that: millennials will almost always trust their peers over traditional media sources. User generated content (UGC) – including status updates, blog posts, and other types of reviews – is viewed as 50% more trustworthy, 20% more influential, and 35% more memorable than traditional forms of media. Of the 18 hours per day that Millenials spend with media, 30% is with UGC, and 71% of media consumption is on social networks. The most important metric for marketers and advertisers, though, is that 68% trust peer reviews and 74% trust conversations with friends over TV, Print, and Radio. The point: UGC is king with millennials, and is the key to driving purchases, from cars, to clothing, to appliances.
YouTube is betting big on its original programming investing 200 million dollars to produce over 100 channels, including a recent talent competition called The You Generation. The Simon Cowell/YouTube collaboration asks users from over 26 countries to upload talent auditions with the chance to win an undisclosed grand prize. The new initiative does a nice job incorporating user’s video to engage the YouTube community.