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November 18, 2009

What The Kids Want: Access Not Ownership...

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The over-40 generation was only able to own records in their youth. VHS and DVDs were just coming into their own. Then, the next generation—the generation that grew up in the ‘90s and the early part of this decade—were flush with ownership. They could not own enough—2,000,000 CDs sold during NSync’s first week of release (the glory days). DVD sales in the millions per release, entire seasons of TV shows that you either grew up with or had watched. Bookshelves at home lined with hundreds, if not thousands, of CDs and DVDs and then video games.

But now…

What is valued? Certainly not ownership. Yes, under-25s will own, but not nearly to the same degree. Not nearly with the same sense of personalization. Not nearly with the same passion. What is valued now is access. Compare the number of streams of music on MySpace Music vs. the number of CDs sold on the Billboard chart in any given week. It is staggering. Tens of millions of streams vs. tens of thousands of CDs sold. Look at all the investments being made in new technologies that allow immediate access to content: Streaming services, Apps, Blackberry, Android, iPhone, Nokia (NYSE: NOK), etc.



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