The same digital media industry that is crippling the traditional media industry will be it's savior? That is where we left off last time. Jacob Leffler's Short Attention Span Theatre: User-controlled Media Part One
It is pretty simple really. Follow the money and you will see where the traditionals are going. Print publishers are growing online ad revenue while their print ad revenue shrinks, broadcast television is seeing their ad dollars shrink, while exploring how to make it up online. Radio, well their whole world is turning upside down and since the FM side of the dial is tied directly into the recording industry, it is tougher to predict. They have challengers ranging from satellite to hundreds of thousands of podcasters to online radio stations. Yikes.
Like addicts traditional media companies, and their ilk (ad agencies), are trying to ween themselves off traditional ad revenue because the ratings that drive those dollars are splitting up, going in different directions, and in some cases just going away. It is tough however slowly but surely these folks are realizing that if they learn how to become relevant to their audiences (again) they can re-gain the ad revenue lost, online. It takes an entirely different mindset, a re-positioning of the content, a new attitude as it relates to the audience, a new attitude on how to find and grow the audience and an entirely new ad model that does not alienate, but gets the audience to participate.
We will save that for part three. See you then.