What’'s Mine is Yours ENTERTAINMENT SHARING APPS


83% 69% 47% 55% 48% 30% 37% 39% 18% 36% 25% 11% 58% 59% 68%


We know that younger generations are “technology native:” they were born into an environment where laptops, smartphones, and the internet were part of daily life. In addition, when Gen. Z and Trailing Millennials were dropped off at day care, their parents’ urgings of “play nice and share” may have really hit home. When those two principles combine, the Youth Cohort is far less likely to have their own music collection, movie libraries, or even cars.


It’'s all about the Sharing Economy.


Te Youth Cohort is far more likely than Boomers to leverage streaming media services like Netflix, Pandora, and HULU, while Boomers are more likely to be using cable television.


But it’s not just about saving shelf space. Younger generations are significantly more likely to consider using home-sharing services like AirBnB and VRBO as well as ride-sharing services like Lyft and Uber.


Millennials are a generation that wishes to pay only for what they use. Why buy satellite television with a thousand channels when there’s only four shows I watch? Why buy a $500 matching luggage set that takes up a lot of room and is


only used once a year when I can set up a sharing system with my neighbors? A gas and insurance- guzzling car spends most of its life parked on the street; ride-sharing and public transit are obvious substitutions. Millennials are willing to pay more for higher quality of the things which they’ll use, not for uninteresting ad-ons. Bundled packages and low-frequency/high-cost purchases are in a state of transition. Managers should continue to monitor what their patrons really want and charge appropriately for it. We’re not forecasting a future of an a-la-carte destination visit, where guests only pay for the attractions they intend to ride or the galleries they came to peruse, but we are keeping our eye on the think-outside-general- admission horizon.


Attraction managers looking to leverage the sharing economy to attract younger generations may consider promoting nearby, high-rated AirBnB or VRBO properties on their “Where to Stay” webpages, or offering discounts and promotions for guests who use services like Lyft to arrive at or depart their attraction.


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