Brooke Auxier

Many Gen Zs and Millennials are already trying out virtual experiences. Around 40% have used VR technology in some way—from gaming to attending a concert or sporting event, or for work or school. This aligns with our findings around VR headset ownership: About 40% of Gen Z and Millennial respondents say they have a smartphone-based VR headset or a stand-alone VR headset in their homes.

The sports and media and entertainment industries are both faced with the challenge of engaging more deeply with fans—especially those in the Generation Z cohort—and creating experiences that keep consumers coming back for more. To explore these considerations in detail, Deloitte’s industry leaders recently discussed their perspectives and outlooks for the sports and media and entertainment industries in 2023.

Digital media can transport us to new places, allow us to forge bonds with people from across the world, and help us feel part of something larger than ourselves. We can tap into creators, trusted advisors, communities, and experiences from wherever we are with just a click or a swipe. For many, these digital “places” are a very real part of their lives that can support their social and emotional needs.