PARENTS FEAR FOR KIDS' PROPERTY MARKET FUTURES AND LOOK TO BANKS FOR EDUCATION
Tuesday, August 16, 2016
Cartoon Network’s New Generations study reveals Aussie kids’ trends and media habits
- 70% of parents concerned about their kids’ ability to buy a house, 46% would consider opening an account with a bank that educated kids on financial literacy
- TV remains the media of choice but kids are creating more of their own content; 33% increase in watching and posting online videos
- Social media usage of children increases dramatically as they age – quintupling as children grow from 7-9 years old to 13 years of age
- Kids’ pocket money is up 7% on last year, to $1.8 billion annually including gift money
Sydney, August 16, 2016 – The majority of Australian parents cite concerns about their kids’ ability to purchase property in the future as the primary financial worry, Cartoon Network’s annual leading research into children and parents study New Generations has found.
New Generations 2016 reveals that 70% of parents are concerned about their kids’ capacity to buy property in the future, ahead of their ability to save money (56%), afford university tuition (50%) and support a family/kids of their own (46%). Despite the financial concerns, kids’ pocket money has increased by 7% on last year to an average of $556 a year including gift money – $1.8 billion annually.
However, parents are looking to banks for education on financial literacy, with 42% saying that banks should take the lead on educating children on the topic. This has highlighted an opportunity for financial institutions to attract more customers, with almost half of parents responding that they would be more likely to open an account with a bank that offered educational programs.
The New Generations report found that kids’ media consumption is up on 2015, an impressive 92% of children watched TV in the last month – up 8%, with most tuning in to watch cartoons. Kids are also well connected, with 86% jumping online in the past month, up 12%. We also saw a 33% increase in kids watching and posting videos online.
David Webb, Cartoon Network’s Director of Research in Asia Pacific, commented on the results, saying: “Every time we conduct this study, it throws up some really valuable insight into the changing lives of Australian children and how they interact with screens and technology. Interestingly, this year, the data also threw light on parental concerns, particularly about their children’s future and the ability to buy property and the importance of financial literacy.”
When it comes to social media, Facebook is still the number one platform for kids, but children spend more time on Snapchat. Almost a third of Snapchat users spend up to an hour and a half on the platform each day, compared to a quarter of Facebook users. The social media usage increases dramatically with age – quintupling as children grow from 7-9 years old to 13 years of age.
The report also highlighted that kids prefer ads that feature comedy and characters, with Captain Risky (Budge Direct) the most liked ad for kids, followed by Unicorn Pooping (Squatty Potty) and McDonald’s. Minecraft was revealed as the top craze in 2016 for boys followed by Lego and Pokémon. This year, girls are all about Shopkins, which came ahead of both beauty activities and Minecraft.
The study, now in its 12th year, was released in Sydney today. It surveyed a group of more than 1,000 individuals, comprising children aged 4-14 and their parents, to gain insights into kids’ media habits and trends.
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About New Generations
New Generations is Cartoon Network’s pioneering and patented kids’ survey to better understand Australian kids’ lifestyle – their values, aspirations, media habits, consumption, pocket money, opinions, preferences and parental influence. Celebrating its 12th edition in Australia, the long established and respected research has interviewed nearly 20,000 child and parent pairs since inception.
About Cartoon Network Asia Pacific
Cartoon Network, the number one kids’ channel in Asia Pacific, offers the best in original animated content including the multi-award-winning global hits Regular Show, The Amazing World of Gumball and Adventure Time and new comedy We Bare Bears. In 2016, the network welcomes back new series of popular franchises Ben 10 and The Powerpuff Girls. Cartoon Network is available in 31 countries throughout Asia Pacific and is currently seen in more than 88 million pay-TV homes. Internationally, it is seen in 192 countries and over 370 million homes, and is an industry leader with a global offering of the best in award-winning animated entertainment for kids and families, known for putting its fans at the center of everything by applying creative thinking and innovation across multiple platforms. Cartoon Network also reaches millions more through its websites, games and apps, including Cartoon Network Watch and Play and Cartoon Network Anything. Cartoon Network, sister company to Boomerang, POGO and Toonami, is a brand created and distributed by Turner, a Time Warner Company.
About Turner Asia Pacific
Turner Asia Pacific creates and distributes award-winning brands throughout the region, running 63 channels in 14 languages in 37 countries. These include CNN International, CNNj, CNN, HLN, Cartoon Network, Adult Swim, Boomerang, POGO, Toonami, World Heritage Channel, Warner TV, Oh!K, TCM Turner Classic Movies, truTV, MondoTV, TABI Channel, and HBO and WB in South Asia. Turner manages the business of Pay- and Free-TV-channels, as well as Internet-based services, and oversees commercial partnerships with various third-party media ventures; it teams with Warner Bros. and HBO to leverage Time Warner’s global reach. Turner Broadcasting System Asia Pacific, Inc. (“Turner Asia Pacific”) is a Time Warner company.