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3. About Gen Z
Vibe is a next-gen mobile-first app designed to revolutionize fan engagement and monetization in the TV and gaming entertainment space, specifically catering to the Gen Z demographic.
Generation Z, or Gen Z, refers to the generation born between 1997 and 2012. This digital-native demographic is tech-savvy, highly connected, and has a strong influence on current and future market trends. With an estimated global population of over 2 billion, Gen Z represents a significant and lucrative market segment for Vibe.
- 1.Digital Natives
- Gen Z spends an average of 4.15 hours daily on their smartphones (App Annie, 2021). Vibe's mobile-first design caters to their digital fluency and on-the-go entertainment preference.
- 2.Content Consumption & Interaction
- 71% of Gen Z watches more than 3 hours of online video content daily (GlobalWebIndex, 2020).
- Gen Z also seeks interactive and immersive experiences. Vibe's personalized AI-generated cast video scenes and immersive fan experiences align with their interests and preferences for dynamic content.
- 3.Gen Z & Gaming
- Gen Z's interest in gaming is significant, with 90% of Gen Z males and 69% of females in the US identifying as gamers (Nielsen, 2020).
- Gen Z gamers are more likely to watch gaming content online, with 73% watching gaming videos on platforms like YouTube and Twitch, according to a SuperData Research report.
- A report from GlobalWebIndex shows that Gen Z gamers are more likely to engage with gaming brands on social media, with 43% following gaming-related social media accounts.
- In a study by the Entertainment Software Association, 46% of Gen Z gamers in the U.S. reported playing video games with others, either in-person or online.
- Gen Z gamers are more likely to spend money on in-game purchases, with 50% of Gen Z gamers in the U.S. having spent money on in-game items, according to a study by Deloitte.
- The global gaming industry is projected to reach $256.97 billion by 2025 (Grand View Research, 2021), presenting a substantial opportunity for Vibe.
- As Vibe focuses on TV and gaming entertainment, it taps into a growing market.
- 4.Gen Z & Live Shopping
- According to a 2020 eMarketer report, nearly 50% of Gen Z consumers in the U.S. were interested in making purchases through live-streaming events, compared to only 26% of the general population.
- A study by the National Retail Federation found that 40% of Gen Z shoppers in the U.S. have used social media to find new products, making them more likely to engage with live shopping events on social platforms.
- A report from Accenture found that Gen Z consumers are 1.5 times more likely to follow influencers on social media for product recommendations, which may include live shopping experiences.
- A survey conducted by eShopWorld revealed that 56% of Gen Z respondents said they would consider purchasing products through social media platforms, which often include live shopping events.
- Gen Z is responsible for $143 billion in spending power in the US alone (Barna Group, 2018).
- Live shopping has become increasingly popular, particularly among Gen Z in Asia, driven by their desire for real-time interactions and on-the-spot purchasing decisions.
- Vibe's livestream shopping feature capitalizes on this potential, offering a seamless in-app shopping experience.
- 5.Socially Conscious
- 60% of Gen Z prefers to buy from brands committed to ethical practices (First Insight, 2021).
- Vibe can resonate with this demographic by highlighting its commitment to ethics and community engagement.
With a strong focus on Gen Z preferences and interests, Vibe is well-positioned to tap into the growing market for fan engagement and monetization in the TV and gaming entertainment space. The platform's innovative approach to content, shopping, and personalization offers a unique value proposition.
By targeting this crucial demographic, which is estimated to account for 40% of global consumers by 2023 (Bloomberg, 2021), Vibe can unlock substantial revenue opportunities, especially in the rapidly growing live shopping sector and the booming gaming industry.
Last modified 7mo ago