Generation Y, which comprises children, teenagers and young adults ages 8-21, has an annual income of $211 billion and spends about $172 billion of that per year, according to a nationwide survey by Harris Interactive. "There are more than 57 million individuals in the 8-21 age group, and their influence on the consumer economy is immense," says Harris VP of Youth Research John Geraci.
In a new promotion, KFC is giving consumers a chance to create their own reality TV commercials to promote the fast food chain's popcorn chicken. Winners will have their spot aired in prime time in October and will receive $10,000.
NBC Chairman Bob Wright yesterday assured the network's employees that no major shakeup was in the works despite a pending deal to merge Vivendi Universal's entertainment properties with NBC. Wright also said he is confident that the Peacock and Vivendi will be able to reach a deal with Barry Diller, who claims Vivendi owes him $2.4 billion.