The Annual Mobile Youth study revealed interesting details about Youth (between 13 and 24 years of age) preferences. They've earlier reported that young people worldwide are reducing spending on cigarette smoking due to mobile phone expenditures. Then they reported that alcohol consumption is down. Now they have found also that chocolate sales to the youth are down because of more and more of their disposable income goes to paying the mobile phone bill (which for the youth is mostly SMS obviously).
Amazing numbers now in the 2005 study about music, mobiles and the youth. It probably is no surprise that the youth spend more on mobile than music. But the ratio of it? It is not twice as much to mobile than music. Nor is it three times as much. No, it is EIGHT times as much spent on mobile phones than on music. In fact a whopping 11.6% of the total disposable income for the youth segment goes into paying their mobile phone bill. For contrast, of the global economy, telecoms accounts for a little over 3% of the worldwide GDP.
I think this bodes quite well for anyone who is currently investing into any mobile phone services or applications or variations of their service, especially if targetting the youth. If that the clear preference - by far the biggest single element of the disposable spending for the youth - then this type of addiction to mobile phones and services on mobile is likely to continue into their adulthood.
If I was the Disneys, MTVs, Levis, Nikes and Pepsicolas of the world, I would really attempt to understand the mobile youth, this new Generation-C (and hint-hint, you can read all about it in our book)
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