DEBATE: Millennials’ Cheap Spending Habits Tied into Music
There was a really interesting piece in this month’s The Atlantic about The Millennial generation and the impact of their cheap spending habits on the greater economy. The piece goes into why millennials (20-34) don’t like buying houses or cars, becuase their values have changed from the what their parents used to value. Now, they value reducing their debt and living in cities, instead of chasing seeking autonomy through owning property rather than sharing it. They’re the very reason why communal websites like Zipcar and Airbnb are huge phenomenons today. Anyway, we bring this article up because it might say something about this generation’s behavior towards music.
It’s fair to argue that millennials represent the generation that first interacted with the post-Napter era and helped facilitate the culture change to sharing music illegally. They’re also the generation that consume the most new music today. It’s also arguable that millennials’ shifted values from their parents towards cars and houses could explain that music also changed in their values system. Ownership is no longer a virtue towards this generation, which includes music, so they share it.
Read the full article and make your own connections.