Blog
07.16
Diaries of an Intern: How one intern has shaken up business
Morgan Stanley has caused a stir. It is definitely raising eyebrows, but not for the reason you would assume. Morgan Stanley got an intern.
The investment bank’s European media analysts asked a 15-year-old summer intern, Matthew Robson, to describe how he and his friends consume media. The report was so profound that Morgan Stanley published it.
Morgan Stanley wrote, “Without claiming representation or statistical accuracy, his piece provides one of the clearest and most thought provoking insights we have seen. So we published it.”
According to Robson, teenagers are consuming more media, but in entirely different ways and are almost certainly not prepared to pay for it.
Teens also disregard radio and stream ad-free music online. Using this avenue, listeners can customize a radio station for his or her listening preferences.
“No teenager that I know of regularly reads a newspaper, as most do not have the time and cannot be bothered to read pages and pages of text while they could watch the news summarized on the internet or on TV,” Robson wrote.
“The only newspapers that are read are tabloids and freesheets (Metro, London Lite…) mainly because of cost; teenagers are very reluctant to pay for a newspaper (hence the popularity of freesheets such as the Metro).”
There’s another nail in the newspapers coffin.
Game consoles have become a way to connect with friends for free. It does not attract only boys, but girls and younger gamers.
Another shocker: Twitter is pointless for the under-20 crowd.
“Most have signed up to the service, but then just leave it as they realize that they are not going to update it … they realize that no one is viewing their profile, so their ‘tweets’ are pointless,” he said.
At least Facebook remains popular.
Who knew an intern could cause such a stir?
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