Though it’s based on British research and frames of reference, I found this article very interesting. Apparently Millennials aren’t going to night clubs at the same rate as they used to, triggering a real crisis in that industry and business model. The reasons can all be traced back to digit services and social media:
- Millennials crave new experiences that they can post to social media, and visiting the same club over and over doesn’t cut it;
- And besides, there’s no need to go to a nightclub to listen to music – you can just as easily listen to curated lists on any number of music services;
- And besides, you can play that music with extremely high quality sound at your own house party, so you no longer really need the nightclub for knock-’em-dead sound;
- And besides, you don’t really need the nightclub as a vehicle for meeting new people, given Tinder and other online dating apps and services;
- And besides, who — if you’re a Millennial — has the money to be a nightclub regular?
I’m no expert on nightclubs, obviously — much less on the nightclub/live entertainment industry — but I think this article should be essential reading for marketers seeking to understand where things are going. The ever-growing array of apps and services is now able to deliver substantive and actionable benefits (as opposed to cool tech for its own sake) that completely disrupt the rationale and business model of sector after sector. True, any individual new app or service could be a bust, but the sum total is irresistible. Now music and entertainment, now travel, now transportation — and we’re just getting rolling on health care.
We should all be going to school on the Millennials; they’re a constant and reliable supplier of previews of what’s coming next.
Read the full article here. It’s well worth it.