Nice PR coup for Morgan Stanley: Fifteen year old bank intern is asked to write a memo describing his friends' media habits and reportedly, his report shook the media world... Analysts should get out of their posh office more often instead of reading reports about surveys. The memo: Teens don't use Twitter. Too expensive and the average low following is not worth it (if you want to talk to a few people only, there is SMS). They use their phone to text, call or exchange files via Bluetooth. They don't like advertising ("annoying and pointless"), don't read newspapers or listen to radio much. They don't use iTunes as it is too expensive and music can be sourced freely someplace else. They spend time on Facebook and money on cinema, concerts and video games that allow them to chat as well. FT article (includes a link to the report).

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