There’s strong demand among younger consumers for digital solutions: 27% of millennials and 26% of Gen Zers called mobile customer service features “extremely valuable,” per our recent report. The big takeaway: The new app is partly driven by BofA’s desire to improve customer service and boost digital engagement.

For the first time, we broke out Disney+ and Netflix viewers by age. It’s widely understood Disney programs are usually aimed at youth. Our forecasts give some clarity on how much Disney+ skews toward young people compared with other streaming services.

Learn how video streaming is evolving. For "In Other News," we discuss what to make of the collective viewership of all major TV events and a surprising stat about Gen Z's relationship with TV. Tune in to the discussion with our analyst Ross Benes.

Gen Zers have clear priorities for transfer features. While groups of “digitally demanding” and “young” consumers inevitably overlap, Gen Zers showed distinct preferences. For example, early adopters’ demand for the ability to stop payment on a check is higher than total respondents’ by about 11 percentage points, but Gen Zers value it less than the average respondent.

According to Deloitte’s 2022 media trends report, playing video games is the favorite entertainment activity among Gen Z respondents in five different countries (the US, UK, Germany, Brazil, and Japan). Gen Z spends one-quarter of their leisure time playing video games, more time spent than any other medium, per Newzoo. Millennials also spend more of their time gaming than with any other media type.

Gen Zers and millennials’ preference for app-based tools reflects their overall digital lifestyle. By generation and household income segment, respondents uniformly valued Social Security alerts.

Over 40% of Gen Z spends more than 3 hours a day on TikTok, per Joy Ventures and getWizer. While that figure may sound incredible, around the same proportion of Gen Z spends more than 3 hours with YouTube, meaning social media addiction is not just a TikTok-specific problem. Platforms are copying TikTok. TikTok is copying back.

Gen Z and millennial consumers feel rising living costs more acutely because they have less savings and disposable income to fall back on. Gen Z and millennial consumers are prioritizing experiential purchases. Almost two-thirds of millennial (69%) and Gen Z (65%) consumers said they plan to travel for vacation, outpacing Gen Xers and baby boomers, per a Verasight survey conducted in May 2022.

But among Gen Z, use will remain behind Snapchat, as well as Instagram, throughout our forecast.

Instagram’s new safety controls for teens could hurt attempts to attract them: The features are intended to halt harmful content, but teens were already losing interest in the platform, and additional limits could be counterproductive.