Here is a list of the top types of financial videos Millionaires watch.
Do you think wealthy investors would watch more financial videos if they had kittens in them?
Spectrem’s latest wealth segmentation study, “Using Social Media and Mobile Technology in Financial Decisions”, determined that 31 percent of affluent investors with a net worth between $1 million and $5 million watch videos on financial websites. Among those Millionaire investors, most (76 percent) say they watch financial information videos.
Fifty-one percent watch videos by financial commentators and those are of greatest interest to senior corporate executives (70 percent) and managers (62 percent). Business owners (29 percent) don’t much care for financial commentator programming.
Forty-seven percent of Millionaire investors say they watch videos of current financial events, and 80 percent of Millionaire investors under the age of 36 watch those types of videos. So do 67 percent of senior corporate executives.
If you channel surf in the morning, you will see multiple stations running scrolls with the top stock prices, and you can see numerous commentators offering stock tips. But only 23 percent of Millionaire investors watch videos on stock tips (perhaps because of the concern over timeliness), although 80 percent of investors under the age of 36 get stock tips from video channels.
But Millionaire investors are far more likely to get their financial information from the typed word, whether it be in print or online. Asked to give a top preference for acquiring financial knowledge, 54 percent of Millionaires said they would read an article, 39 percent said they would prefer to talk to an expert, and only 4 percent said they would prefer to watch a video to get their information.
Only 17 percent of Millionaires said they have an interest in watching videos of financial experts discussing any financial or investment topic. Forty-five percent said they are interested in research and articles on the research related to financial topics.
And where would Millionaires most likely access financial videos? Twenty-one percent say they would go to YouTube to look up a video on financial information, while 6 percent would look on Facebook and 4 percent would access financial videos on LinkedIn. No one goes to Twitter to find videos on financial topics or issues.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.