According to a DirecTV Advertising report, Millennials and Gen Z are more inclined towards brands promoting a healthy lifestyle than Baby Boomers. Approximately 60% of Millennials would likely buy from these brands, compared to 50% of Gen Xers, 39% of Gen Zers, and 38% of Boomers. Over 40% of Millennials were more inclined toward medical or healthcare product ads and were interested in healthcare innovations. Also, they are more likely to seek support for non-life-threatening health conditions. Millennials and Gen Z regularly exercise, prioritize mental health, and use digital media and telehealth services. Despite this, they have not entirely abandoned linear TV. The report indicates that pharma brands should have a converged approach towards their video buying to connect with these generations. Moreover, 80% of pharma advertisers considered addressable solutions across linear and CTV to reach hard-to-reach audiences. The report also points to convergence in buying teams to more effectively target audiences across different platforms.
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[Source: MM+M, July 26th, 2023]