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Insights & Innovation: For Gen Z, Identity is What They Make It

Gen Z is made up of pre-teens, teens, and young adults born between 1997 and 2012, and what makes this generation unique is its position as the most diverse ever in terms of race, ethnicity, and gender. Based on the latest US Census, those under 18 are nearly two times more likely to identify as two or more races, and Gen Z will likely be the last generation that is predominantly white. Many Gen Z-ers grew up with President Obama in office and bore witness to historical events like the legalization of same-sex marriage. For them, the concept of identity is not straightforward; not only do Gen Z-ers accept and embrace their own differences, but what makes others different, too. Vox Media partnered with Horowitz Research on a survey of 800 Gen Z-ers ages 14-24 to understand how the intersection of race, ethnicity, sexuality, gender, and other variables affect their perception of identity, the role media plays in shaping their points of view, and what it takes to build brand trust among this highly informed and connected audience. Gen Z-ers recognize how powerful media can be in driving acceptance, but feel there is room to improve within the advertising industry. Media and brands are being held accountable for shaping the way society thinks about gender, sexuality, and race, and they’re responsible for creating an environment that promotes inclusivity — but it must be done via an honest dialogue about brand ethos that’s backed up with real policy, practice, and people. In many ways, there are parallels between the way Gen Z thinks about their own personal identity and a brand’s identity. According to a 2021 Bloomberg article, Gen Z has a disposable income of $360 billion, but their approach to spending is nothing like what we’ve seen from previous generations.

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REEMERGENCE & REINVENTION IN CHAOS

CHAOS BREEDS GOBLIN MODE?  There’s a reason “Goblin mode” — acting “unapologetically self-indulgent… in a way that rejects social expectations” — was voted Oxford Dictionary’s 2022 word of the year. While the chaos of the pandemic may be (for the most part) behind us, the world has yet to return to a state of calm. In fact, many people feel that things are more disruptive than ever. Working with SightX, we surveyed 4,000 people with the goal of understanding the various anxieties and struggles consumers are now facing — whether they be political, economic, or health-related. This type of work isn’t the most comfortable, but it is honest. It’s also the best way for marketers to understand consumers’ current states of mind, and, ultimately, how to celebrate their resiliency through difficult circumstances. A REACTION TO CHAOS We utilized a well-defined psychological model known as “the 5 Fs” to understand how people currently perceive society’s response to chaos. Here’s what they said when asked how much they agree with each statement in regards to society at large: THE 5 Rs ARE WHAT REALLY MATTER Thankfully, our perception of general society doesn’t necessarily reflect our own personal reality. In other research from Vox Media, we are seeing a trend of defiance among consumers; for example, see what we forecasted as they approached the holiday shopping season in the face of recession indicators. REEMERGENCE The post-pandemic world will have ~⅘’s (78%) of people reconsidering priorities, values, and a readjustment to how they spend their time and energy. In fact, ⅖ believe they have a clearer sense of meaning. REINVENTION There is a desire for change as 68% are tired of the chaos, and nearly half are considerably more interested in reinventing themselves. ~60% say they are more willing to help others and are

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Popsugar Announces 2023 Beauty Award Winners

Popsugar’s trusted team of beauty editors sorted through thousands submissions to deliver the 97 skin-care, hair, makeup, fragrance, and nail products that stand above the rest

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Vox Media at SXSW 2023

Hear from voices across Vox Media Studios, the Vox Media Podcast Network, Eater, and Vox Creative this year in Austin.

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Marketing With Purpose Pays Off

Over the past decade, corporate social responsibility has been a larger focus for companies across many industries. We recognize its importance, and thus Vox Media partnered with Nielsen to understand some of the finer points around the following: How does CSR contribute to consumer expectations around brand building? How do marketers decide what social issues to support?  What are examples from publishers who specialize in creating platforms that focus on consumer equity and programming with purpose? Does CSR ultimately drive purchase? Our research presents a compelling argument for CSR in the current environment for the following reasons: Creates salience for your brand in saturated categories, especially in partnership with publishers and content marketing Purpose marketing can galvanize organic brand support and overall stronger word of mouth It appeals to next-gen customers, specifically Gen-Z Purpose will become more of a factor and as important as features and benefits marketing “BUILD” YOUR BRAND EQUITY WITH CSR A question that is often asked: Which CSR issue is the least polarizing to my audience?   When summarized into 4 areas, companies can try to build… … a more sustainable planet … a great company and culture for their own workers … a  more equitable society through access and representation … a place for inclusion through centering individual rights and shared purpose in the collective We asked consumers to tell us what issues were personally important. If that issue was important, we followed with whether it impacts the brands they choose to purchase. The two buckets that matter most for consumers are building a better planet and a company that respects workers. Two things a company controls. Given how high the numbers are in the red bars above, consumers likely use their brand choice to activate their own set of personal values in real-world issues. GETTING DOWN

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Redefining Our Understanding of Marketing, Equity & Inclusion

When a company says they’re committed to brand purpose or corporate social responsibility, what comes to mind? Do you associate these terms with concrete actions, or are they just marketing buzzwords like “green” or “clean?” Are you more willing to support a company if they claim to care about corporate social responsibility? Modern consumers are constantly defining and redefining themselves based on cultural and societal factors, changing perceptions of identity, and demographic shifts. In the past few years, as we have all grappled with unavoidable macro forces including a global pandemic, the accelerating effects of climate change, and systemic inequality, many brands have decided to participate in the conversation with their own declarations of and commitments to social responsibility and positive action. Today’s consumers have more choice than ever before, and more access to information to inform their purchasing decisions. Whereas a mere 25 years ago consumers received all of their information about brands via one-way channels — aka, direct advertising — any person can now proactively track everything from a company’s supply chain to their charitable donations to their PR missteps. As we discovered via previous research building audience trust is equally important as doing the “right thing,” brands can only achieve authentic connection by meeting consumers exactly where they are in terms of mindset, emotional state, and identity. To help marketers find expressions of corporate social responsibility and brand purpose that are authentic to their brands and most likely to resonate with today’s consumers, Vox Media partnered with the Axis Agency and BRANDthrō to answer three questions: A NEW WAY TO DO RESEARCH.  BRANDthrō’s ADVANCED RESEARCH METHODS Before jumping to the results, it’s important to understand why we elected to work with BRANDthrō.   Part of this analysis is based on the OCEAN personality model (see appendix) that

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The Pitch Podcast Launches New Season

In its first season since partnering with Vox Media last fall, the new season of The Pitch spotlights companies investing in the future, with investors committing over $900,000 to entrepreneurs looking to bring their ideas to life.

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Vox Media Announces Strategic Investment from Penske Media Corporation

Monday, February 6–Vox Media Co-Founder, Chair, and CEO Jim Bankoff today announced that the company has finalized a strategic investment from Penske Media Corporation (PMC). Vox Media is the owner of leading media brands including: Vox, New York Magazine, The Verge, The Cut, Eater, Vulture, The Strategist, Polygon, SB Nation, Intelligencer, Curbed, Grub Street, Recode, Thrillist, Popsugar, The Dodo, and NowThis. The terms of the deal were not disclosed. “We couldn’t ask for a better partner than Jay and Penske Media to invest in our company’s future success, and help us build on and accelerate our creative work and business strength,” said Bankoff.  “This investment by Penske Media will allow Vox Media to continue scaling its existing brands and operations, while also providing resources for future acquisitions, and is another step forward in the ongoing success of Vox Media.” “I have long admired Vox Media’s world-class editorial teams and brands,” said Jay Penske, CEO and Founder, Penske Media. “We deeply respect the track record of both Jim Bankoff and the senior leadership team at Vox Media, and the company’s remarkable growth over the last decade. The Penske Media and Vox Media alliance will further cement both companies as leaders in modern media and take advantage of new opportunities at scale. Our two companies share a similar history of organic and acquisitive growth over time, and it made sense to invest for the future.” Transaction highlights: The financial terms of the investment were not disclosed. The two companies will continue to operate independently. As part of the investment, Penske Media will become Vox Media’s largest shareholder. Jay Penske will join the Board of Directors at Vox Media. LionTree acted as financial advisor to Vox Media, while White & Case LLP acted as its outside legal advisor. Morgan Lewis served as Penske