How well do you understand young people today?
Piper Sandler just released the results of its 50th semiannual survey of American teenagers—nearly 11,000 of them across 47 states, with an average age of 15.7 years old.
The investment bank has been doing this for 25 years now, collecting more than 66 million data points about what teens buy, what they watch, and whom they admire. It’s become one of the most reliable snapshots of youth culture in America.
Here are seven findings that stood out.
Adam Sandler
According to the survey, America’s teens rank Adam Sandler as their number one favorite celebrity.
He beat out LeBron James (number two), Drake (number three), and Taylor Swift (number four). Ryan Reynolds rounded out the top five.
To be fair, Sandler, 59, has had a renaissance lately with his Netflix specials and dramatic turns in films like.
But still, I take pride in realizing that the most-loved celebrity among people this age is older than I am.
Sandler has stayed remarkably consistent over three decades. He doesn’t seem to try too hard. He wears the same oversize basketball shorts everywhere. He’s goofy and self-deprecating and seems genuinely happy.
In an era of carefully curated Instagram lives and manufactured celebrity personas, maybe Gen Z appreciates someone who just … is.
Spending less
Teen spending dropped 6 percent year-over-year to an average of $2,213 annually. It’s part of a longer trend: Teen spending is down 1 percent on average over the past decade.
Also, 62 percent of surveyed teens said they think the economy is getting worse. Only 15 percent think it’s improving.
These aren’t kids from struggling households. The average household income for survey participants was $69,527—solidly middle class and above.
Perhaps the explanation is that these teens grew up hearing about recessions, inflation, student debt crises, and housing markets their parents couldn’t afford. They came of age during a pandemic that shut down the world. They’re bombarded with economic anxiety on social media every single day.
It’s no wonder they’re pessimistic—even if their own personal circumstances aren’t dire.
$6 mascara
In the beauty category, E.l.f. Cosmetics dominated with 36 percent of teens naming it their top cosmetics brand.
Rare Beauty came in second at 8 percent. Maybelline was third at 6 percent.
If consumers form lasting brand affinities when they’re young, E.l.f. is in a very good place.
If you’re not familiar, this is a brand that sells $6 mascaras and $3 lip glosses. It’s the anti-luxury beauty brand—affordable, accessible, cruelty-free, and heavily promoted on TikTok by regular people, not just traditional influencers.
TikTok
TikTok ranked as the number one favorite app among teens with 46 percent, followed by Instagram at 31 percent and Snapchat at 14 percent.
Conventional wisdom says TikTok has completely replaced Instagram among young people. But Instagram’s 31 percent share isn’t nothing.
For context, that means nearly one in three teens still considers Instagram their favorite app—despite everything we hear about it being for “old people” now.
Facebook of course isn’t even on the list. Although I found it amusing that Piper Sandler included a link to their Facebook page on the statement announcing this study.
Netflix
Despite all the competition and password-sharing crackdowns, Netflix held onto its number one spot for daily video consumption with 30 percent of teens choosing it.
YouTube came in close behind at 27 percent. Disney+ was a distant third with just 7 percent.
No Hulu. No Max (formerly HBO Max). No Paramount+. No Peacock.
For all the streaming services trying to capture young audiences, it basically comes down to Netflix and YouTube. Everyone else is fighting for scraps.
The iPhone
Here’s a statistic that should terrify Android manufacturers: Eighty-seven percent of surveyed teens own an iPhone.
Also, 17 percent of those iPhone owners (ironically) said they’re planning to upgrade to the iPhone 17 this fall or winter.
If this holds, it would mean Apple has essentially captured an entire generation. The iPhone isn’t just a phone to these kids—it’s a status symbol and a gateway to their digital lives.
If you’re a parent trying to hold the line with an Android device, good luck. You’re fighting against the strongest brand loyalty in modern consumer history.
Chick-fil-A
In the restaurant category, Chick-fil-A held onto its number one spot with 17 percent of teens naming it their favorite chain.
McDonald’s came in second at 11 percent. Chipotle was third at 10 percent.
Top beverage brands: Dr. Pepper, followed by Coca-Cola and Gatorade.
And among snacks, Lays potato chips were the favorite, with Goldfish and Cheez-It coming in behind. The youngest Gen-Z members are still only 13 years old, and so I wonder if that influences the snack rankings, especially.
What it all means
If you’re trying to understand Gen-Z—whether as a parent, an employer, or a marketer—this survey offers some fascinating insights.
They value authenticity over perfection. They want quality at reasonable prices. They’re digitally native but still value human connection. They’re economically anxious even when their circumstances are relatively comfortable.
And, they’re telling a very interesting story.
7 other things
Hurricane Melissa slowly cut a soaking and destructive path across Jamaica on Tuesday after making landfall as one of the strongest Category 5 storms on record. Communications were limited and officials were left with only partial and sporadic reports from stricken areas as they tried to assess the scale of the destruction. (NYT gift link; this should be updated overnight with the latest.)
The Trump administration is planning to replace some regional leaders at Immigration and Customs Enforcement with Border Patrol officials in an attempt to intensify its mass deportations effort. “The mentality is CBP does what they’re told, and the administration thinks ICE isn’t getting the job done,” one of the DHS officials said. “So CBP will do it.” (NBC News)
Inside the Trump family’s global crypto cash machine: The U.S. president’s family raked in more than $800 million from sales of crypto assets in the first half of 2025 alone, a Reuters examination found, dwarfing what the family earned from its traditional businesses, on top of potentially billions more in unrealized “on paper” gains. Much of that cash has come from foreign sources. (Reuters)
Amazon was preparing to being making the largest corporate job cuts in its history on Tuesday, according to multiple reports, spanning almost every business within its empire. The company planned to lay off as many as 30,000 staffers across its corporate workforce, according to Reuters, which first reported the news. Amazon declined to comment. (CNBC)
The Lengths Americans Are Willing to Go to Make Every Penny Count: From buying half a cow to watering down soap, people are experimenting with frugality—and it is affecting sales at consumer companies. (WSJ)
Belgium is at risk of becoming a “narco-state” where the drugs mafia challenge the police and judiciary, according to an open letter published on the official website for the country’s court system. In an extraordinary move, an anonymous investigating judge in Antwerp, Europe’s main gateway for cocaine smuggling from Latin America, published the missive as a warning of the threat to the rule of law. (The Times)
The federal agent had a daring pitch for Nicolás Maduro’s chief pilot: All he had to do was surreptitiously divert the Venezuelan president’s plane to a place where U.S. authorities could nab the strongman. In exchange, the agent told the pilot, the aviator would be made a very rich man. Over the next 16 months, even after retiring from his government job in July, the agent kept at it, chatting with the pilot over an encrypted messaging app. (AP)
Thanks for reading. Photo by Sri Lanka on Unsplash. I wrote about some of this Inc.com. See you in the comments!
What do you mean by “digitally native?” I get that Gen Z live inside their phones, but then you go on to write that they value human connection. I don’t see that. Could it be they value it but can’t be bothered to make it happen?
It is interesting that first Facebook and now Instagram both have become platforms for old people. It used to be fun watching instagram videos but they are both hotbeds of misinformation and AI generated content.
No matter your age you’ve gotta’ love Sandler!