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Meet Generation Z: The Newest Member to the Workforce

Published

4 years ago

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Every generation approaches the workplace differently.

While talk over the last decade has largely focused on understanding the work habits and attitudes of Millennials, it’s already time for a new generation to enter the fold.

Generation Z, the group born after the Millennials, is entering their early adult years and starting their young careers. What makes them different, and how will they approach things differently than past generations?

Meet Generation Z

Today’s infographic comes to us from ZeroCater, and it will help introduce you to the newest entrant to the modern workforce: Generation Z.

Meet Generation Z: The Newest Member to the Workforce

There is no exact consensus on the definition of Generation Z, and demographers can differ on where it starts. Some have Gen Z beginning as early as the mid-1990s, while others see it starting in the mid-2000s.

Regardless, Generation Z is the group that follows the Millennials – and many Gen Zers are wrapping up high school, finishing up their university degrees, or looking to get their first real jobs.

Millennials vs. Gen Z

While generational differences cast a wide net and don’t necessarily apply to every individual, here is what demographers say are some key similarities and differences between Gen Z and Millennials.

MillennialsGeneration Z
Raised by Baby BoomersRaised by Gen Xers
Grew up during an economic boomGrew up during a recession
Tend to be idealisticTend to be pragmatic
Focused on having experiencesFocused on saving money
Mobile pioneersMobile natives
Prefer brands that share their valuesPrefer brands that feel authentic
Prefer Facebook and InstagramPrefer Snapchat and Instagram

Generation Z tends to be more pragmatic, approaching both their education and career differently than Millennials. It appears that Gen Z is also approaching money in a unique way compared to past groups.

What to Expect?

Generation Z does not remember a time when the internet did not exist – and as such, it’s not surprising to learn that 50% of Gen Z spends 10 hours a day connected online, and 70% watches YouTube for two hours a day or more.

But put aside this ultra-connectivity, and Gen Zers have some unique and possibly unexpected traits. Gen Z prefers face-to-face interactions in the workplace, and also expects to work harder than past groups. Gen Z is also the most diverse generation (49% non-white) and values racial equality as a top issue. Finally, Gen Z is possibly one of the most practical generations, valuing things like saving money and getting stable jobs.

You may already have Gen Zers in your workplace – but if you don’t, you will soon.

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Charting Revenue: How The New York Times Makes Money

This graphic tracks the New York Times’ revenue streams over the past two decades, identifying its transition from advertising to subscription-reliant.
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Published

2 months ago

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March 21, 2023

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NYTimes advertisement to subscription

When it comes to quality and accessible content, whether it be entertainment or news, consumers are often willing to pay for it.

Similar to the the precedent set by the music industry, many news outlets have also been figuring out how to transition into a paid digital monetization model. Over the past decade or so, The New York Times (NY Times)—one of the world’s most iconic and widely read news organizations—has been transforming its revenue model to fit this trend.

This chart from creator Trendline uses annual reports from the The New York Times Company to visualize how this seemingly simple transition helped the organization adapt to the digital era.

New York Times revenue in a bar chart

The New York Times’ Revenue Transition

The NY Times has always been one of the world’s most-widely circulated papers. Before the launch of its digital subscription model, it earned half its revenue from print and online advertisements.

The rest of its income came in through circulation and other avenues including licensing, referrals, commercial printing, events, and so on. But after annual revenues dropped by more than $500 million from 2006 to 2010, something had to change.

NY Revenue By YearPrint CirculationDigital SubscriptionAdvertisingOtherTotal
2003$623M$1,196M$168M$1,987M
2004$616M$1,222M$165M$2,003M
2005$616M$1,262M$157M$2,035M
2006$637M$1,269M$172M$2,078M
2007$646M$1,223M$183M$2,052M
2008$668M$1,068M$181M$1,917M
2009$683M$797M$101M$1,581M
2010$684M$780M$93M$1,557M
2011$659M$47M$756M$93M$1,555M
2012$681M$114M$712M$88M$1,595M
2013$673M$151M$667M$86M$1,577M
2014$668M$172M$662M$86M$1,588M
2015$653M$199M$639M$89M$1,580M
2016$647M$232M$581M$94M$1,554M
2017$668M$340M$559M$109M$1,676M
2018$642M$400M$558M$148M$1,748M
2019$624M$460M$531M$198M$1,813M
2020$597M$598M$392M$196M$1,783M
2021$588M$774M$498M$215M$2,075M
2022$574M$979M$523M$233M$2,308M

In 2011, the NY Times launched its new digital subscription model and put some of its online articles behind a paywall. It bet that consumers would be willing to pay for quality content.

And while it faced a rocky start, with revenue through print circulation and advertising slowly dwindling and some consumers frustrated that once-available content was now paywalled, its income through digital subscriptions began to climb.

After digital subscription revenues first launched in 2011, they totaled to $47 million of revenue in their first year. By 2022 they had climbed to $979 million and accounted for 42% of total revenue.

Why Are Readers Paying for News?

More than half of U.S. adults subscribe to the news in some format. That (perhaps surprisingly) includes around four out of 10 adults under the age of 35.

One of the main reasons cited for this was the consistency of publications in covering a variety of news topics.

And given the NY Times’ popularity, it’s no surprise that it recently ranked as the most popular news subscription.

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