Hollywood is betting large on TikTok expertise in bid to woo Gen Z

In this photo illustration a TikTok logo seen displayed on a smartphone with stock market percentages in the background.

SOPA Images | LightRocket | Getty Images

When TikTok creator Boman Martinez-Reid first got an email from Creative Artists Agency he ignored it. As an Ontario native, he saw the acronym CAA and assumed it was CAA Insurance, a major car insurance company in Canada.

It was only after a TikTok representative contacted him that he realized he was being courted by one of Hollywood’s top talent agencies.

“I get a [direct message] from a guy at TikTok and he says let’s talk on the phone,” Martinez-Reid recalled. “So, we had a phone call and he asked me ‘I know that CAA has been reaching out to you. Do you know who they are? They represent Beyonce, Meryl Streep, you have to get on the phone with them.'”

Martinez-Reid, known online as “Bomanizer,” has more than 1.5 million followers and a budding career that includes a guest appearance on “Canada’s Drag Race” and a line of branded merchandise. While he rose to TikTok fame making reality show spoof videos, the 24-year-old has aspirations beyond the social media platform. He signed with CAA in July 2020.

Martinez-Reid is part of a growing list of content creators that have signed with traditional talent agencies, including dancer Charli D’Amelio, actress Addison Rae and the creators of the viral TikTok series “The Unofficial Bridgerton Musical,” Abigail Barlow and Emily Bear.

These artists have been tapped because of their talent, but also because of their engagement with online communities. These entrepreneurs have built large and loyal followings on the short-form video app, something talent managers and agents from traditional Hollywood firms see as a potential gold mine.

Not only can these agencies help build mini-media empires around these creators, they also can benefit from the strategies these digital influencers use, and apply it to bolster the careers of the agencies’ already established clients.

Actor Will Smith, who is repped by CAA, is just one example of an A-list celebrity who has embraced social media, including TikTok and YouTube, in recent years as a way to promote his content and to promote himself.

“Will recognized four or five years ago that young audiences are consuming media in a much different way,” said David Freeman, co-head of the CAA’s digital media division. “Will understood that he had to shift and change the way that he was interacting with his audience.”

This pivotal audience, which ranges in age from six to around 25, is known as Gen Z and is one of the most sought after consumer bases for companies. Not only is this young generation coming of age as consumers, but they are also driving major trends for older generations, said Jason Dorsey, president of the Center for Generational Kinetics, a research and strategic advisory firm.

“This makes this younger set of trendsetters overly valuable,” he said.

This generation is not just impacting entertainment, but apparel, food, technology and bigger social conversations, he said. 

“As Gen Z comes up, they really are the best predictor of the future,” Dorsey said. “Smart brands are trying to figure out how you connect with them in a sincere way. … If you win Gen Z, you can win everyone else.”

Embracing Gen Z

Dorsey noted that many brands missed out on connecting with the millennial generation because they dismissed this demographic’s adoption of mobile devices and social media and believed that this group of young consumers would return to the traditions of previous generations.

“That didn’t happen,” he said.

While the millennial generation adopted the internet and a mobile-first mentality, Gen Z has never known a time that they could not do almost everything they needed to do on a mobile device, said Connor Blakley, a marketing consultant and Gen Z expert.

“Everyone always says that Gen Z has a six- to eight-second attention span,” he said. “What that is is just a really good ‘BS meter’ for different kinds of information so that we can pick the thing that we really want to spend time on.”

Blakley, who is a member of Gen Z himself, has advised companies like Pepsi, Johnson & Johnson and the National Hockey League on social media marketing strategies. He noted that Gen Z is a generation that can easily discern when people and companies are being disingenuous.

“That’s why you are seeing talent agencies, marketing agencies, influencer agencies, all kinds of branding agencies going to TikTok because that is the place where Gen Z already is,” Dorsey added. “If you want to reach them, you have to go to where they are because you have virtually zero chance of getting them to where you are.”

TikTok, in particular, has been a place for talent agencies to cull new talent because of its rapid rise to popularity and the viral nature of its content. In fact, TikTok was the most popular website in 2021, surpassing even Google, according to data from Cloudflare, a web security and performance company.

The social media app, which launched internationally in 2017, rose to prominence in 2018, but really gained traction with consumers in late 2019 and during the coronavirus pandemic.

Movie theaters were shuttered, productions of popular TV shows were halted and the rate at which content was being released to the public slowed considerably. With so many people stuck at home, many turned to alternatives like TikTok for entertainment.

“Suddenly there was a pandemic,” Martinez-Reid said. “Everyone was stuck inside. I had nothing to do but to make content and everyone else had nothing to do but to watch content.”

Boman Martinez-Reid, known on TikTok as “Bomanizer,” is a content creator who was signed by talent agency CAA in July 2020.

Boman Martinez-Reid

For Martinez-Reid, TikTok was a creative outlet. He was one semester away from graduating from Ryerson University’s RTA Media Production program when the social media platform began to gain popularity. So, he decided to try his hand at content production.

“What do I have to lose? If I post something and it does well, great. If it does poorly, then no one will know,” he said.

His first TikTok was posted in December 2019 and centered around Martinez-Reid having a conversation with his last two brain cells about joining the social media platform.

“I was just basically shooting for this like overproduced, super scripted, try hard kind of edge, which at the time was not a thing on TikTok,” he said. “And I think that’s why my content started to do so well, because I started to get this comment that was like ‘I can’t believe that this is a TikTok’ and from then on it sort of just snowballed into more and more opportunities.”

Martinez-Reid has become known for his reality show spoof videos in which, alongside family and friends, he pokes fun at how cast members often get into feuds over the small things. He said that during the pandemic, while people were stuck inside, they could relate to tiny little frustrations bubbling over into big arguments.

While Martinez-Reid has yet to break into Hollywood, he’s used his relationship with CAA to meet with casting directors and story producers at various networks over the last 18 months. His goal is to gain more knowledge about the industry so he can make more strategic decisions about what projects he wants to sign on for in the future.

But there is a path for Martinez-Reid, one that was first forged more than a decade ago by content creators on YouTube and the now defunct video platform Vine.

‘Talent is talent’

Over the last decade, CAA has helped content creators from nontraditional platforms make the transition to Hollywood. The group reps Tyler Blevins, aka Ninja, who rose to fame streaming himself playing video games. While Blevins continues to play video games professionally, he has also participated in Fox’s “The Masked Singer” and had a cameo appearance in Disney’s “Free Guy.”

The talent agency also represents Arif Zahir, who gained notoriety for his impressions posted on YouTube, and now voices Cleveland Brown on Fox’s “Family Guy.”

Other notable celebrities that have risen from this space include CAA-signed Justin Bieber, who was discovered by Usher and Scooter Braun and became a Grammy Award-winning artist; Liza Koshy, who also signed with CAA and now voices Zipp Storm on the “My Little Pony: A New Generation” TV show; and Bo Burnham, who is represented by United Talent Agency, went from making comedy YouTube videos, to writing, directing and starring in top Hollywood films.

“Talent is talent,” said Frank Jung, who launched CAA’s digital media division almost a decade ago alongside Freeman. “If they are an amazing talent, that’s just number one.”

TikTok is still a relatively new platform and has yet to produce the same number of Hollywood success stories as YouTube has in the last decade, but experts predict it won’t be long until its making a mark on the film and television industry.

Already we’ve seen the rise of Addison Rae, 21, who secured a multimillion dollar deal with Netflix in September after starring in the streamer’s film “He’s All That,” a sequel to 1999’s “She’s All That.” She is represented by William Morris Endeavor Entertainment and currently has more than 86 million followers on TikTok.

And, of course, Charli D’Amelio, 17, who touts a following more than 133 million strong on the social media platform, has partnered with brands like hummus maker Sabra, Procter & Gamble and Dunkin and now has her own docuseries on Hulu. D’Amelio is repped by UTA.

Then there is Maggie Thurmon, who rose to fame on the social media app dancing and performing circus tricks with her father Dan. The 19-year-old was signed by UTA in February 2020 before she hit 1 million followers on the platform.

Now, she has more than 5 million followers, a popular podcast called “Mags and Dad’s Wholesome Chaos” and just wrapped her first feature film “The Other Zoey,” which features Andie MacDowell and Heather Graham.

“I’m auditioning at the moment,” Thurmon told CNBC just hours after finishing up on set. “I’m so excited for the possibilities of acting in the future. If I can do this for the rest of my life, I would just be the happiest person on the planet.”

Thurmon said she was “greatly surprised” when she announced to her TikTok following earlier this month that she would be pursuing acting alongside her burgeoning social media career.

“I prepared for the backlash,” she said. “But I did not find one negative comment on the TikTok announcement or Instagram post.”

Thurmon’s experience is not unique. “What we see is that Gen Z influencers on TikTok have built meaningful followings and have a built-in audience of fans that feel a personal connection to the creator and want to be more supportive,” Dorsey said. “They feel like that are going along with them on the project.”

That’s one reason these content creators have clout among Hollywood agencies looking to sign fresh talent.

‘Data is the new oil’

“The unique thing is not only being able to identify talent, but this talent already comes with a built-in audience,” CAA’s Freeman said. “Through social media and these platforms, there is a direct conversation that is happening between talent and audience.”

For Jung and Freeman, these audiences provide much needed data about what people want to consume for content and who they want to see make that content.

“Data is the new oil,” Jung said. “What we are trying to do is make sure we are amplifying these voices and eventually creating media businesses for the clients, which will leave lasting legacies.”

“And also everyone can make some money,” he added with a laugh.

Not only can these agencies help build mini-media empires around these creators, they also can benefit from the strategies these digital influencers use, and apply it to bolster the careers of the agencies’ already established clients.

Smith, who has been campaigning for a best actor nomination at this year’s Academy Awards for his role in Warner Bros.’ “King Richard,” is a prime example of a traditional CAA client who has used social media to jumpstart the next phase of his career.

Freeman said that much of the actor’s learnings and best practices came from Koshy, who taught him that his social media videos didn’t need to be perfect, well-produced videos, they just needed to be authentic and give audiences a peek behind the curtain into his life.

Smith started his own YouTube channel in 2017, posting vlog-style videos about his life alongside curated series. 2018’s “The Jump” focused on Smith’s preparation to bungee jump out of a helicopter over the Grand Canyon for his 50th birthday, while 2021’s “Best Shape of My Life” centered on the actor’s journey to improve his personal fitness.

More recently, he has posted videos of himself training alongside Miami Dolphins quarterback Tua Tagovailoa, quizzing his young costars from “King Richard” about his career and explaining how he went about recording his audiobook.

Actor Will Smith takes a selfie at the UK Premiere of “King Richard” at The Curzon Mayfair on November 17, 2021 in London, England.

Samir Hussein | WireImage | Getty Images

“His career was colder than it had been,” Dan Weinstein, of Underscore Talent, said. “I wouldn’t say it was nonexistent, but he was not the ‘Independence Day’ blockbuster draw he was. He found new audiences. He reinvented his persona around his celebrity. There’s no denying the fact that he is an insanely creative, talented, charismatic individual and he’s leveraging that to breathe new life into all of his endeavors.”

In the last five years, Smith has starred in major blockbusters like Warner Bros.’ “Suicide Squad” and Disney’s “Aladdin,” reestablishing himself as a force at the box office.

And Smith isn’t the only celebrity following this path. Dwayne Johnson, Ryan Reynolds, Taylor Swift, Jennifer Lopez and more have embraced social media as a way to connect with fans and promote their work.

Jung and Freeman’s digital media division of CAA has been devised as a place to meld the best practices of the traditional Hollywood model with the strategies of grassroots entrepreneurial content creators. In doing so, their team can take already established talent and reinvigorate their careers. They can also take up-and-coming talent, like Martinez-Reid, and build from an already sturdy foundation.

Martinez-Reid is still forging his path and CAA isn’t rushing him.

“That’s why I love CAA,” Martinez-Reid said. “Because they see me as a talented creator who will have a career. It’s not just about quick jobs. It’s about shaping what my next 10 years are going to look like.”

Vogue manufacturers woo Gen Z as post-millennials redefine fashion quotient

According to the fashion portal Myntra, Over the past 18 months, Gen Z has been the fastest growing consumer group that has emerged as a “very critical base” for the platform. “If we look at our overall customer base, Millennials and Gen Z are equally important. But the Gen Z base has started seeing very high levels of traction in the past 18 months, “said Ayyappan Rajagopal, Myntra’s chief business officer.

In August, Myntra brought on board London-based fashion brand Urbanic, who rank Generation Zers as their main consumer base, to ensure they don’t miss the opportunity to cater to Generation Z customers, some of whom are in their late teens and early years 20 he said.

For nearly a decade, millennials dominated consumer trends and their buying habits helped Brands artisanal products and experiences tailored to their preferences. Now the focus has shifted to Generation Z.

In fact, this customer segment influences retailers around the world when planning their collections and collaborations. More recently, they are driving demand for Y2K fashion or trends from the early 2000s.

The signature style of Gen Z shoppers includes athleisure, oversized pants, t-shirts, sweatshirts, box crop tops and sneakers.

According to Myntra, many big brands like Jack and Jones, Nike and Puma are planning mini-collections or even sub-brands aimed at this younger target group.

Other collaborations, such as the one with Urbanic, are ongoing, said Rajagopal. However, fashion brands did not disclose the percentage of business that came from Generation Z.

Sanjeev Mohanty, Managing Director and Senior Vice President, South Asia, Middle East and Africa, Levi’s, said Generation Zers value certain aspects of brands such as authenticity, transparency, uniqueness, giving back to society and collaboration, which are also part of their daily lives .

This makes them a very dedicated customer base. They are more likely to buy a product or service that is backed by social responsibility, he added.

While legendary denim brand Levi’s has been rediscovering its offerings time and time again, some of their newer associations, like the Levi’s x Super Mario collection, Levi’s x Royal Enfield, Levi’s x Snoopy, Levi’s x LEGO, and the Levi’s x BAPE collection, are trying to create a deeper connection with Gen Z. “This ensures we appeal to Gen Z’s love for everything unique, authentic and vintage,” Mohanty said.

Gen Zers believe they are trendsetters and likely trade comfort for fashion, said Gopa Kumar, chief operating officer of Isobar, a digital media agency. You’ll also likely discover brands that are “in sync” with their values, and likely choose athleisure, recycle old fashions, and wear accessories to express themselves generously, he said. They are also “value seekers” and “discount hunters”. as they are about to enter the world of work, he added.

Some have just started to work, others are on pocket money, gift money or simply let their parents pamper them. For example, Yashica Malhotra, 18, said that Instagram is usually where she spots new fashion trends and usually relies on family trips to the mall to buy new clothes as she doesn’t get pocket money.

Kumar said that while millennials are still a key segment for fashion brands, the transformation needed to meet the needs of Generation Z has already begun.

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Educating Gen Z About Cash

Mos-App

Kredit – Mit freundlicher Genehmigung von Mos

Julieta Silva hat viele Fragen zum Thema Geld, als sie diesen Herbst mit dem College beginnt: Wie baut man Kredite auf? Wie halten Sie ein Budget? Wie fange ich am besten mit dem Investieren an?

„Diese Welt dreht sich um Geld“, sagt Silva, 18, eine neue Studentin im ersten Jahr an der Northeastern University in Boston und die erste in ihrer Familie, die ein College in den USA besucht. “Ich möchte sicherstellen, dass ich alle Grundlagen habe.”

Das ist ein Bedürfnis Startup Mos hofft zu füllen, wenn es am 1. September eine Banking-App für Studenten auf den Markt bringt. Seit 2018 haben etwa 400.000 Studenten, darunter Silva, Mos verwendet, um im Jahresdurchschnitt 16.430 US-Dollar an College-Finanzhilfen zu erhalten. Nun hofft das Unternehmen, dass Studenten, die seine Finanzhilfedienste nutzen, bei der App bleiben, um ihre Ersparnisse und Investitionen zu verwalten, Hypotheken aufzunehmen, Optionen für Auto- und andere Kredite zu vergleichen und nach Jobs zu suchen.

„Das Ziel ist nicht nur eine Studentenbank zu werden. Das Ziel ist es, wie eine Finanz-Super-App zu sein“, sagt Amira Yahyaoui, Gründerin und CEO von Mos. Yahyaoui, 37, weiß, wie es sich anfühlt, als junger Mensch die oft verwirrenden Hürden der persönlichen Finanzen zu meistern. Die tunesische Menschenrechtsaktivistin floh als junge Erwachsene aus ihrem Land und lebte jahrelang im französischen Exil ohne Zugang zu einem Bankkonto und ohne feste Arbeit. (Der Name „Mos“ stammt von der Star Wars-Stadt Mos Espa, die in dem tunesischen Dorf gedreht wurde, aus dem Yahyaoui stammt.) „Ich verstehe die Frustration, wenn man keinen Zutritt hat, weil man es sich nicht leisten kann“, sagt Yahyaoui , deren Ziel es ist, zu verhindern, dass Studenten wie Silva in die 1,7 Billionen Dollar schwere Studentenschuldenkrise der Vereinigten Staaten hineingezogen werden. „Wir arbeiten und zielen darauf ab und sind daran interessiert, die ersten Jahre des Erwachsenwerdens zu lösen“, sagt sie.

Angesichts steigender Studiengebühren, steigende Verbraucherschulden und weniger Vertrauen in Banken Seit der Finanzkrise 2008 ist Mos eines von mehreren Fintech-Startups, die die Notwendigkeit sehen, das Bankgeschäft für eine jüngere Generation neu zu denken.

Die Geschichte geht weiter

Mos founder and CEO Amira Yahyaoui<span class=Mit freundlicher Genehmigung von Amira Yahyaoui” src=”” data-src=”https://s.yimg.com/ny/api/res/1.2/vJSYppvfjJSxcb5uTCRRwg–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUxNS42NTQ5MjU3MDE3MDYx/https://src=”” 1.2/jHPzRg64Ju4HfggEwJp5Jw–~B/aD0zOTg3O3c9NTQ1MTthcHBpZD15dGFjaHlvbg–/https://media.zenfs.com/de/time_72/4fe508b7109870b12bd332cc6a17e0f7″/>

Mos-Gründerin und CEO Amira YahyaouiMit freundlicher Genehmigung von Amira Yahyaoui

“Ich verstehe die Frustration, nicht reingelassen zu werden, weil man es sich nicht leisten kann.”

Ein Großteil der Generation Z, geboren von 1997 bis 2012, hat die finanziellen Belastungen der Pandemie ertragen, als er versuchte, ein College oder eine Berufstätigkeit aufzunehmen, und sieht sich nun mit steigenden Bildungs-, Wohn- und Gesundheitskosten konfrontiert. Doch nur 21 Bundesstaaten verlangen von High-School-Studenten, dass sie vor ihrem Abschluss einen Kurs in persönlichen Finanzen belegen, so a Umfrage 2020 vom Rat für wirtschaftliche Bildung. Das hat eine Öffnung für Unternehmer geschaffen, die besser auf die Bedürfnisse von Menschen wie Silva abgestimmt ist.

Der Markt für reine Digitalbanken oder Herausfordererbanken – neue Unternehmen, die versuchen, mit größeren, traditionelleren Banken zu konkurrieren – wird laut a . bis 2027 auf 471 Milliarden US-Dollar anwachsen, gegenüber 20 Milliarden US-Dollar im Jahr 2019 Bericht 2020 von Allied Market Research, zusammen mit dem Aufkommen des digitalen Bankings und der Schließung weiterer stationärer Bankfilialen.

„Jedes einzelne Finanzprodukt und jede Art von Finanzinstitut wird für die Gen Z neu gedacht“, sagt Anish Acharya, General Partner bei Andreessen Horowitz, der zuvor bei Credit Karma arbeitete, denn „sie haben einfach viel düsterere Aussichten“ als ältere Generationen. „Ja, Banken bieten Studienkredite an, aber wo sind die Produkte, die der Generation Z helfen, zu sparen und zu investieren und tatsächlich eine intelligente Entscheidung zu treffen, welche Kredite aufgenommen werden sollen?“ sagt Acharya, der kein Investor in Mos ist, aber Yahyaoui beraten hat.

Weiterlesen: Die Schuldentilgung von Studenten ist wirtschaftlich sinnvoll. Warum ist es so schwer zu tun?

Mos gehört zu einer Handvoll neuer Startups, die darauf abzielen, den kombinierten Bedarf der Generation Z an Bankdienstleistungen und Finanzberatung zu nutzen. Im Mai 2020 ist es 13 Millionen US-Dollar für Series-A-Finanzierung gesammelt, unterstützt von der Venture-Firma Sequoia Capital, mit anderen Investoren, darunter NBA-Spieler Stephen Curry und Zoom-Gründer Eric Yuan.

Greenlight, eine kinderfreundliche Debitkarte, die dient 3 Millionen Eltern und Kinder, erreichte eine Bewertung von 2,3 Milliarden US-Dollar im April mit seiner letzten Spendenrunde. Das Unternehmen verspricht, Eltern dabei zu helfen, „finanziell kluge Kinder großzuziehen“ und beinhaltet eine Bildungskomponente, in der Kinder etwas über Geldausgeben und Investieren lernen können. Current, das eine Debitkarte für Teenager und Girokonten ohne Überziehungsgebühren bis zu 100 US-Dollar anbietet, verfügt über mehr als 2 Millionen Benutzer und eine Bewertung von 2,2 Milliarden US-Dollar.

Akhil Reddy sammelt derzeit Startkapital für Bloom, eine digitale, gebührenfreie Bank, die sich an Nutzer der Generation Z richtet. mit dem Ziel, im Jahr 2022 auf den Markt zu kommen. Der 25-Jährige gründete im April zusammen mit seinem ehemaligen College-Mitbewohner Bloom, als er einen Markt für junge Leute sah, der von Überziehungsgebühren und dem Versuch, Kredite aufzubauen, frustriert war.

„Es gibt nur wenige Meilensteine ​​im Leben eines Menschen, die er anstreben wird, die Bank zu wechseln. Und ich denke, das College ist eine großartige Gelegenheit“, sagt Reddy, der zum ersten Mal ein eigenes Bankkonto hatte, als er mit dem College begann. „Ich denke, die Generation Z beginnt zu erkennen, dass sie, wenn sie finanzielles Wohlergehen will, ihre Finanzen in den Griff bekommen und lernen muss, wie man spart, budgetiert und investiert.“

A sign calling for President Joe Biden to cancel student debt hangs outside the White House on June 15, 2021.<span class=Getty Images für Paul Morigi – Wir die 45 Millionen/Getty Images” src=”” data-src=”https://s.yimg.com/ny/api/res/1.2/IFLCo.FveDt1YcXewG8spQ–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3OC45MjczNzQzMDE2NzU5Nw- api/res/1.2/Tthk5yG_Jli29rkdPaLASA–~B/aD0zNjQ4O3c9NTM3MDthcHBpZD15dGFjaHlvbg–/https://media.zenfs.com/de/time_72/55b4818941b31d0e78ec3a0″bc> .1a

Ein Schild, das Präsident Joe Biden auffordert, die Studentenschulden zu erlassen, hängt am 15. Juni 2021 vor dem Weißen Haus.Getty Images für Paul Morigi – Wir die 45 Millionen/Getty Images

Yahyaoui stellt sich vor, dass Mos wächst, wenn seine Gen-Z-Benutzer heranwachsen und sich an ihn wenden, um Hilfe bei der Bezahlung des Colleges, der Erlangung ihrer ersten Jobs und des Kaufs ihrer ersten Häuser zu erhalten.

Banken machten eine geschätzte 31 Milliarden US-Dollar auf Überziehungsgebühren im Jahr 2020. Mos, das Bankdienstleistungen über eine Partnerbank, die Blue Ridge Bank mit Sitz in Virginia, anbietet, verspricht, auch nach dem Abschluss der Studenten keine Gebühren zu erheben. Stattdessen plant es, Geld zu verdienen, indem es Kreditgeber in Rechnung stellt, um Kredite in der App zu bewerben, Unternehmen, um Stellen oder Praktika zu veröffentlichen, und Hochschulen, um Studenten zu rekrutieren.

„Morgen bekommen sie ihren ersten Job bei Mos, das erste Praktikum bei Mos“, sagt Yahyaoui über ihre zukünftigen Kunden. „Dank Mos werden sie das Sparen verstehen. Sie werden Kredit aufbauen.“

Silva fand Mos, als sie 2020 mit dem Bewerbungsprozess für das College begann, und ihr TikTok-Feed war mit College-Videos überflutet.

Während sie US-Bürgerin ist, die die High School in Brownsville, Texas, besucht hat, leben und arbeiten ihre Eltern gleich hinter der Grenze in Mexiko, und diese ausländischen Steuern erschwerten das Ausfüllen des kostenlosen Antrags auf Bundesstudentenhilfe (FAFSA). „Meine Eltern sind in den USA nicht aufs College gegangen, daher wissen sie nicht, wie die College-Bewerbung aussieht“, sagt Silva, die online und in den sozialen Medien nach Antworten suchte.

“Diese Welt dreht sich um Geld.”

Sie stolperte über ein von Mos gepostetes TikTok-Video über die Beantragung von Finanzhilfe, wenn Ihre Eltern nicht aus den USA kommen, was viele ihrer Fragen beantwortet hat. Es ist eines von Dutzenden von TikTok-Videos, die Mos mit Tipps geteilt hat Vermeidung häufiger FAFSA-Fehler, sich kostenlos an der Hochschule bewerben und Angebotsschreiben für finanzielle Hilfe vergleichen.

Von dort bezahlte Silva für die Inanspruchnahme des Finanzhilfedienstes der Plattform und wurde mit einem Berater verbunden, der ihr half, Stipendien zu finden, die ihren Interessen entsprachen, und der sie unterstützte, um finanzielle Hilfe aus dem Nordosten zu beantragen. Die Universität gewährte Silva ein finanzielles Hilfspaket, das fast die vollen Studiengebühren abdeckte. Sie gehört jetzt zu einer Gruppe von Studenten, die Mos berät, was sie in einer Bank suchen, und sie sagt, sie plane, ein Mos-Bankkonto zu eröffnen.

Silva ist eine von vielen Schülern, die in der High School wenig bis gar keine Finanzkompetenz hatten. Fast die Hälfte der College-Studenten sagt, dass sie sich nicht bereit fühlen, ihr Geld zu verwalten, und nur 11% der Gen-Z-Studenten geben an, über die Informationen zu verfügen, die sie benötigen, um ihre College-Darlehen zurückzuzahlen, laut a Umfrage 2019 von der Versicherungsgesellschaft AIG und dem Online-Bildungsanbieter Everfi. Als Reaktion darauf haben Gesetzgeber in 25 Bundesstaaten in diesem Jahr Gesetze erlassen, um die Finanzbildung zu erweitern, so a Tracker von Next Gen Personal Finance.

“Wenn [traditional] Banken füllen diese Lücke nicht, wenn Schulen diese Lücke nicht füllen, dann ist das eine Gelegenheit für Fintech-Unternehmen, ins Spiel zu kommen, und das haben wir gesehen“, sagt Mark Williams, Finanzdozent an der Questrom School of der Boston University Business, der eine Klasse über Finanztechnologie unterrichtet und die gemeinnützige FitMoney mitbegründet hat, um K-12-Studenten in Massachusetts Finanzkompetenz zu vermitteln.

Weiterlesen: Die Bewerbung am College war für die meisten Studenten nie einfach. Die Pandemie machte es fast unmöglich

Andere argumentieren, dass Finanzkompetenz eine zu einfache Lösung für viel größere Probleme ist, einschließlich der hohen College-Kosten in den USA. Sie wissen nicht nur nicht, worauf sie sich bewerben sollen“, sagt Timothy Ogden, Managing Director der Financial Access Initiative an der New York University kritisierte Bemühungen Finanzielle Alphabetisierungskurse an Gymnasien zu verlangen. Er glaubt, dass den Verbrauchern besser gedient wäre, wenn finanzielle Bildung von gemeinnützigen Organisationen statt von einer Bank oder einem universitären Finanzhilfebüro angeboten würde: “Lassen Sie uns nicht so tun, als hätten die Banken keine Motive.”

Die effektivste Art der Finanzaufklärung, sagt er, gibt den Menschen spezifische Informationen genau in dem Moment, in dem sie sie brauchen, um eine Entscheidung zu treffen.

Das hätte die 24-jährige Metztli Uraje gebrauchen können, als sie nach dem Abitur zum ersten Mal eine vierjährige Universität besuchte und dafür etwa 3.000 Dollar an Studienkrediten aufnahm. Später wechselte sie auf ein günstigeres Community College, um stattdessen einen Associate-Abschluss zu erwerben, und priorisierte die Rückzahlung dieser Kredite, indem sie frühmorgens und spätabends Einzelhandelsschichten in ihren Stundenplan einfügte.

<span class=Mit freundlicher Genehmigung von Mos” src=”” data-src=”https://s.yimg.com/ny/api/res/1.2/wtafDUxABbNlP8D.fXLMUw–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ4MS45MzM1OTM3NQ–/https://s.yuim api/res/1.2/vZTS8dGd2tNxCGELGhlSRg–~B/aD0yMTAwO3c9MzA3MjthcHBpZD15dGFjaHlvbg–/https://media.zenfs.com/de/time_72/5b8f9e180ce28c455354830″/604942

Mit freundlicher Genehmigung von Mos

Sie griff auf Google zurück, um all ihre Fragen zum Thema Geld zu beantworten – Was sind Zinsen? Wann sollte sie sich für eine Kreditkarte anmelden? Was ist in einem FAFSA-Formular erforderlich? „Ich denke, bei Menschen, die aus Familien der ersten Generation stammen, ist es wirklich schwer, um diese Art von Hilfe zu bitten, weil Sie möglicherweise nicht wissen, wie Sie sie bitten sollen, oder die Menschen in Ihrem Leben nicht wissen, wie sie es tun sollen“, sagt Uraje. ein College-Student der ersten Generation.

Als Junior an der California State University, Dominguez Hills, nutzt sie Mos, um Finanzhilfen und Stipendien zu beantragen, und möchte vermeiden, dass sie wieder Studienkredite aufnimmt. „Viele Leute wissen wirklich nicht, wie diese Formulare funktionieren, wie Banken funktionieren“, sagt Uraje, die hofft, dass ein Mos-Konto ihr mehr Orientierung bietet als eine traditionelle Bank. “Als ich anfing, dieses Zeug zu machen, hatte ich das Gefühl, dass ich mich darauf einlassen würde, ohne dass mir jemand wirklich geholfen hat.”

Während Silva in Boston gerade ihre College-Reise beginnt, hat ihr Interesse an persönlichen Finanzen viel mit ihren Plänen nach dem Abschluss zu tun. „Ich möchte reisen, ich möchte die Welt genießen. Ich denke, das ist eine sehr Gen-Z-Sache. Aber das möchte ich wirklich, wirklich erst einmal erleben und mich dann niederlassen“, sagt sie.

Sie hofft, dass ihr neu gewonnenes Wissen über Budgetierung, Investitionen und Kredite dies möglich macht. “Ich möchte nicht, dass meine persönlichen Finanzen oder ihr Fehlen diesen Traum beeinträchtigen, den ich seit meiner Kindheit hatte.”

What leisure does Gen Z favor? The reply is not good for Hollywood | Options

As a parent, when you gather your teenagers in the living room to watch “The Falcon and the Winter Soldier” on Disney +, you just know there’s a good chance they’d rather play Fortnite.

This is the result of a new study by the consulting firm Deloitte, in which the generational differences in entertainment at home were analyzed.

The study, based on an online survey of more than 2,000 consumers in February, showed that preferences between millennials and the younger generation are changing rapidly when it comes to how they want to spend their free time.

For Gen Z, defined as those born between 1997 and 2007, video – whether it be movies or TV shows – is not a priority, the study found.

26 percent of Gen Zers in the survey said playing video games was their favorite entertainment activity, compared with 14 percent for listening to music, 12 percent for browsing the web, and 11 percent for engaging in social media. Only 10% said they would rather see a movie or TV show at home.

Compared to Millennials (born 1983-1996), 18% of whom chose movies and TV shows as their preferred type of entertainment. Video games were the entertainment option of choice for 16% of millennials.

If these trends continue, it could mean that videos are becoming less important to consumers, said Jana Arbanas, vice chairman and US director of telecommunications, media and entertainment at Deloitte. Interactive online games are playing an increasingly important role in how people interact, especially for younger consumers.

“Gen Z would much rather spend time playing games, music, or social media,” she said. “That was a really stark contrast that we saw in terms of the change and long-term impact of Gen Z on this industrial sector.”

This could be an issue for Hollywood, which is already seeing stiff competition from video games (including cell phone and console games) and social media apps like TikTok and Snapchat. Teenagers and young adults are important so that studios and networks can observe them, especially as they carry their behavior into adulthood.

If executives and producers hope that teenagers and young adults will grow beyond these behaviors and become more like their parents over time, the Deloitte researchers said it isn’t likely.

“Millennials have adopted the behaviors they developed as teenagers and they continued into the early 30s. So if Gen Z is something like that, their behaviors can change slightly, but I don’t see full aging in their behaviors behaviors, ”said Kevin Westcott, US technology, media and telecommunications leader.

Deloitte’s survey also looked at issues such as churn in the growing streaming services market. As streamers like Disney +, HBO Max, and Netflix compete for viewer attention, companies also have to struggle to keep consumers who sign up.

According to the Deloitte study, subscriptions switched more than a year ago as more streaming services started and many people had financial problems due to the pandemic.

But most of the time, people don’t drop streaming services entirely. You exchange them for others. 22% of respondents said they had added subscription services since the pandemic started, while 33% said they had added and canceled video subscriptions. Only 3% said they only canceled services.

What causes consumers to delete one streaming service, perhaps for another? Deloitte’s research suggests that cost is the main factor.

Almost half (49%) of respondents said the main reason for canceling a video subscription was a price increase.

Even so, the content remains a big deal. 31% say they would be most likely to quit if the shows and movies they liked were removed.

Copyright 2021 Tribune Content Agency.