Sports TV Viewings – Do Millennials Like Sports?
Nielsen data has shown a decrease in viewings of live sporting events by Millennials. Does this mean Millennials just aren’t as interested in sports as previous generations? No, the love of sports is something people of all ages enjoy. What has changed is how Millennials watch sports.
How Do Millennials Watch Sports?
In today’s fast-paced world, sometimes Millennials are too busy to watch an entire sports broadcast. With social media and live score updates, there are plenty of ways Millennials can stay up-to-date on how their team is doing when they aren’t actually watching the game, and thanks to highlight clips, they don’t have to miss out on the important moments.
When they do want to watch the game, many Millennials are not turning on the television. Instead, they turn to streaming services on their smartphones. They may watch the game live or stream it at a later time when it is more convenient for them.
Many sports and sports organizations now offer “Season Pass” viewing subscriptions. For a monthly or annual fee, these passes provide access to all the games. These subscriptions also typically include extended coverage or additional events that may not air on regular television, to further enhance the experience for devoted fans.
It’s All About the Experience
Millennial sports fans don’t just want to watch the game – they want to experience it. After all, there is something special about being able to say you witnessed something big and exciting happen. Because of this preference, many Millennials are spending more of their discretionary income on experiences instead of on material possessions. For example, they might decide they would rather purchase tickets to watch a game live instead of upgrading their television for better viewing at home.
Saving for Experiences
Watching a sporting event live and in person is a thrilling experience, but it can get expensive quickly, especially if you want to purchase better seats or need to cover travel expenses to get there. Save up for these experiences by setting aside a percentage of every paycheck to cover your costs. While the amount of discretionary income you set aside will vary based on your income and financial needs, typically, it should total no more than 30% of your paycheck. From there, you can determine how much of this discretionary money you want to go towards attending sporting events and purchasing “Season Pass” subscription services.
In order to keep your sporting budget separate from everyday spending, you may want to create a designated savings account for this money. Every time you get paid, simply transfer over your budgeted amount to this account, and enjoy earning interest on it until you’re ready to purchase your tickets. This tip doesn’t just work for sports fans – it can be used to save for other experiences, like concerts or vacations, as well. For more information, contact us today at 702-228-2228.