Australian children’s media consumption has increased over the past year, with their total spending power rising to $1.8 billion annually, Cartoon Network’s annual leading research study into children and parents New Generations has found.
The New Generations report revealed that TV ads are still the most effective for reaching children, with watching TV remaining the top media consumption activity for kids. An impressive 92 per cent of children watched TV in the last month – up 8 per cent, with most tuning in to watch cartoons.
Chief findings of the study included:
- Kids media consumption has increased
- TV still the most influential channel for reaching kids with viewing up 8% on last year
- Captain Risky (Budget Direct) the most liked ad for kids
- Twice as many children notice ads on TV compared to social media
- Kids’ pocket money is up seven per cent on last year, to $1.8 billion annually including gift money
- 86 per cent of kids were online in the past month with a 33 per centincrease in kids watching and posting online videos
The report also highlighted that kids prefer ads that feature comedy and characters, with Captain Risky (Budget Direct) the most liked ad for kids, followed by Unicorn Pooping (Squatty Potty) and McDonald’s.
The report uncovered a 33 per cent increase in kids watching and posting videos online and a seven per cent increase in kids’ pocket money, to an average of $556 a year including gift money. Kids are also well connected, with 86 per cent jumping online in the past month, up 12 per cent.
When it comes to social media, Facebook is still the number one platform for kids, but children spend more time on Snapchat. Almost a third of Snapchat users spend up to an hour and a half on the platform each day, compared to a quarter of Facebook users. Parents have the most safety concerns for children with YouTube and Facebook, with kids’ TV channels the most trusted media.
Children have the most influence over the purchase of toys, clothing, movies and weekend activities, with Minecraft revealed as the top craze in 2016 for boys, followed by Lego and Pokémon. This year, girls are all about Shopkins which came ahead of both beauty activities and Minecraft.
The New Generations report also highlighted key concerns of Australian parents in relation to their kids’ financial futures, revealing that 70 per cent of parents are worried about their kids’ capacity to buy property in the future. This was the primary concern, ahead of their children’s ability to save money (56%), afford university tuition (50%) and support a family/kids of their own (46%).
It surfaced that parents are looking to banks for education on financial literacy, with 42 per cent saying that banks should take the lead on educating children on the topic. This has highlighted an opportunity for financial institutions to attract more customers, with almost half of parents responding that they would be more likely to open an account with a bank that offered educational programs.