The Millennials, who will soon have the greatest combined purchasing power in history, spend much of their time with content created by peers, or user-generated content (UGC). But how much of their time is spent with UGC and how do they perceive it?
To find out, Crowdtap surveyed 839 millennials (18 - 36) in Jan. 2014. Here are some of their key findings:
People between ages 18 - 36 are spending lots of time with user generated content, they spend 18 hours with media per day.
71 percent millennials interact at least once per day with social media.
They trust user-generated content just as much as professional reviews.
UGC is also 35 percent more memorable and 20 percent more influential on purchase than all other media types.
Take a look at this visual, outlining how much time millennials are spending with user generated content and how it's influencing the media world.