The Five Biggest Tech Trends for Millennials in 2016
Digital is dominated by the millennials so I felt it was only right to identify the trends that address our audience. Here are five to watch for in 2016:
News
Digital is dominated by the millennials so I felt it was only right to identify the trends that address our audience. Here are five to watch for in 2016:
News
As if we needed any more of a reason to be on social media, here it is. As much as 63% of users on Twitter and Facebook get their news from there, according to Pew Research. Social networks have already adapted to compete with stand alone news apps like Flipboard or Apple News.
Platforms like Facebook, Twitter, Snapchat have been able to break news in real-time and itâs beginning to shift how we find trending stories, especially for millennials.
Twitter Moments allows readers to see a feed of trending news and live events as they happen. As a user you can follow and share moments. Twitterâs Periscope is another acquisition that has helped in the move towards live events.
Facebookâs live coverage engine, Instant Articles, currently has 20 media companies publishing stories directly to the Facebook platform.
Snapchatâs news tends to break straight from the influencers but Snapchat Discover hosts a collection of 19 media channels who curate content specifically for their Snapchat community. Not to mention, Snapchat recently has been trying their hand at live news coverage as well through their promoted stories.
I started Bando, a mobile news platform for the urban culture, because I found that social media was mostly used to discover news on a surface level. Bando delivers real-time news at the speed of a social network.
Major social platforms are covering breaking news as it happens, media publishers canât mimic the convenience. Exp ect the relationship between the two to continue in 2016.
Virtual Reality
Virtual reality is no longer a fascination of the future, itâs here now. Before, talks of emerging VR products were only depicted by concept images and speculation. Today, there are both developer and consumer facing VR models that have opened the door for alike products and software.
VR is so new that itâs hold. Itâs said to be on the brink of emergence by every notable publication but hereâs why I think itâll scale quickly this year:
Since 2014, Google has offered an amaetur VR headsets that uses your smartphone to create different virtual environments. Yet, the premium VR headsets are opening avenues for software developers thus expanding outside of just a product focused industry.
Facebook owned, Oculus Rift took to CES this year to announce their $600 price point and shipping date for their March commercial release. Oculus is more so a video game tailored headset but itâs innovation lends itself to a number of different industries. Much like Microsoft Hololens, the Oculus is versatile in that it provides value to the health care, real estate, and shopping industries. More importantly, itâs still in itâs earlier stages for developers so we can expect a lot of growth as far as content and future hardware.
Video Games
As new gaming consoles introduce more capabilities, like the aforementioned Oculus, video games are soon to adapt.
Consumers are expected to spend $5.1 billion on virtual reality gaming this year, both in product and software according to SuperData Research. Thatâs a huge leap from the $660 million spent in 2015. Gamers will be able to play in real life environments and physically interact with simulations making gameplay actually immersive.
The video game industry in itâs current state has also already begun its transition to the cloud. In an effort to maximize storage and create bigger games, many consoles are becoming cloud-based.
Most games are currently too big to stream and still need to be downloaded to the console. But you can download them to multiple consoles. Cloud-based games also allow different luxuries like boosted performance or additional gaming effects.
Streaming Services
With the introduction new technologies and platforms, quality content will still be the beneficiary. Weâre now beginning to see that battle play out between cord cutting services and cable television.
Sling TV and Sony Vue lead the pack among cable streaming services and theyâve earned their fair share of the market. Sling TV, owned by DISH, offers a viable alternative to cable television. Just $20 a month (no contract) and you get access to 20 basic channels including AMC, A&E, TNT, CNN, the Food Network, ESPN, and ESPN2. Premium upgrades get you HBO and other customizations to Slingâs programming. In 2015, Sling TV was reportedly generating $5 million per month and are fast the 250,000 user milestone. Though many television providers are launching their own app to accommodate the digital viewers who would rather watch TV via the internet.
Products have ties in this race as well. The Apple TV 2, Roku, and Amazon Fire represent the hardware side of the streaming service market.
Itâs expected that even more big name players will partner with already active streaming services and the digital ad spend will continue to compete with cable. As web TV services look to build revenue from subscriptions, content providers, and advertisements, they create a bigger market and wider reach for their partners and parent companies.
Fintech
Technology is making it financial responsibility that much easier and itâs giving banks a run for their money (no pun intended).
According to Goldman Sachs, financially focused startups expected to consume $4.7 trillion worth of annual revenue from traditional financial services. Investors have recognized this trend as well, in 2014 there was $12 billion invested in financial technology.
Fintech startups provide luxuries that banks canât and theyâre capturing emerging markets and millennial audiences.
Companies like WePay, Affirm, and Betterment are making services easy-to-use and inclusive. They’ve successfully addressed problems like processing for online shopping, student debt, and providing support for the 2.5 billion unbanked adults.
Social networks have already adapted to compete with stand alone news apps like Flipboard or Apple News.
Platforms like Facebook, Twitter, Snapchat have been able to break news in real-time and itâs beginning to shift how we find trending stories, especially for millennials.
Twitter Moments allows readers to see a feed of trending news and live events as they happen. As a user you can follow and share moments. Twitterâs Periscope is another acquisition that has helped in the move towards live events.
Facebookâs live coverage engine, Instant Articles, currently has 20 media companies publishing stories directly to the Facebook platform.
Snapchatâs news tends to break straight from the influencers but Snapchat Discover hosts a collection of 19 media channels who curate content specifically for their Snapchat community. Not to mention, Snapchat recently has been trying their hand at live news coverage as well through their promoted stories.
Major social platforms are covering breaking news as it happens, media publishers canât mimic the convenience. Exp ect the relationship between the two to continue in 2016.
Virtual Reality
Virtual reality is no longer a fascination of the future, itâs here now. Before, talks of emerging VR products were only depicted by concept images and speculation. Today, there are both developer and consumer facing VR models that have opened the door for alike products and software.
VR is so new that itâs hold. Itâs said to be on the brink of emergence by every notable publication but hereâs why I think itâll scale quickly this year:
Since 2014, Google has offered an amaetur VR headsets that uses your smartphone to create different virtual environments. Yet, the premium VR headsets are opening avenues for software developers thus expanding outside of just a product focused industry.
Facebook owned, Oculus Rift took to CES this year to announce their $600 price point and shipping date for their March commercial release. Oculus is more so a video game tailored headset but itâs innovation lends itself to a number of different industries. Much like Microsoft Hololens, the Oculus is versatile in that it provides value to the health care, real estate, and shopping industries. More importantly, itâs still in itâs earlier stages for developers so we can expect a lot of growth as far as content and future hardware.
Video Games
As new gaming consoles introduce more capabilities, like the aforementioned Oculus, video games are soon to adapt.
Consumers are expected to spend $5.1 billion on virtual reality gaming this year, both in product and software according to SuperData Research. Thatâs a huge leap from the $660 million spent in 2015. Gamers will be able to play in real life environments and physically interact with simulations making gameplay actually immersive.
The video game industry in itâs current state has also already begun its transition to the cloud. In an effort to maximize storage and create bigger games, many consoles are becoming cloud-based.
Most games are currently too big to stream and still need to be downloaded to the console. But you can download them to multiple consoles. Cloud-based games also allow different luxuries like boosted performance or additional gaming effects.
Streaming Services
With the introduction new technologies and platforms, quality content will still be the beneficiary. Weâre now beginning to see that battle play out between cord cutting services and cable television.
Sling TV and Sony Vue lead the pack among cable streaming services and theyâve earned their fair share of the market. Sling TV, owned by DISH, offers a viable alternative to cable television. Just $20 a month (no contract) and you get access to 20 basic channels including AMC, A&E, TNT, CNN, the Food Network, ESPN, and ESPN2. Premium upgrades get you HBO and other customizations to Slingâs programming. In 2015, Sling TV was reportedly generating $5 million per month and are fast the 250,000 user milestone. Though many television providers are launching their own app to accommodate the digital viewers who would rather watch TV via the internet.
Products have ties in this race as well. The Apple TV 2, Roku, and Amazon Fire represent the hardware side of the streaming service market.
Itâs expected that even more big name players will partner with already active streaming services and the digital ad spend will continue to compete with cable. As web TV services look to build revenue from subscriptions, content providers, and advertisements, they create a bigger market and wider reach for their partners and parent companies.
Fintech
Technology is making it financial responsibility that much easier and itâs giving banks a run for their money (no pun intended).
According to Goldman Sachs, financially focused startups expected to consume $4.7 trillion worth of annual revenue from traditional financial services. Investors have recognized this trend as well, in 2014 there was $12 billion invested in financial technology.
Fintech startups provide luxuries that banks canât and theyâre capturing emerging markets and millennial audiences.
Companies like WePay, Affirm, and Betterment are making services easy-to-use and inclusive. They’ve successfully addressed problems like processing for online shopping, student debt, and providing support for the 2.5 billion unbanked adults.