Many young people use YouTube to find out about trends. The video platform has also gained significantly in importance when it comes to investing.
YFor young people, outube is the channel through which they get information most often. This also applies to the subject of investments. This is a result of the second youth study by the direct bank Comdirect, for which 1,600 youths and young adults between the ages of 16 and 25 were surveyed nationwide.
According to this, 60 percent inform themselves about all topics on the Internet, 42 percent on social media. Only one in two young people asks their friends about current topics and trends, in the family not even one in three talks about them.
Newspapers and magazines have decreased significantly in importance. In 2016, 37 percent of young people said they wanted to find out more, in 2019 only one in four will do so.
Youtube is growing in importance
When it comes to money, it’s still a little different. Apparently, this is still a matter of trust, because, according to the study, young people still prefer to get information about this in the family. This is especially true for young women – they love being “offline”, appreciate the personal exchange on banking products and get information from family (42 percent), the bank branch (36 percent) or from friends and acquaintances (31 percent).
But digital sources are also gaining in importance. “Young people are increasingly using the digital channels they are familiar with to find out more about financial topics,” says Arno Walter, CEO of Comdirect. Most of all, Youtube is: While in 2016 only 7 percent of those surveyed acquired their financial knowledge via the video platform, in 2019 it was already 20 percent.
Youtube is particularly popular with male adolescents (26 percent versus 13 percent among female respondents). More than twice as many young men as women use blogs for information (19 percent versus 8 percent).