Media's Week That Was: A Good Old Fashioned Party, All Video All the Time, 'New' Media No Longer New
This was a really exciting week for anyone following media and marketing.
WOW! What a week. This was a really exciting week for anyone following media and marketing. We're coming out of Advertising Week in New York where the city celebrates the ad industry. There's nothing like throwing yourself a good old fashioned party. Allow myself to celebrate…myself!
Then BANG! Cap it off with Google (GOOG) buying YouTube! (I'll post my thoughts on that early on Monday.) Then the NY Times comes out with a pretty tough review of Yahoo! (YHOO) and Terry Semel's plight and now you have total confusion for mass marketers who are trying to make some semblance of logic out of all this movement.
So what does it all mean? Last week I attended the IRTS (International Radio & Television Society) conference and heard both marketers and media planners discuss the state of the media landscape. Tom Wolzien, the former well-known Bernstein media analyst moderated. It was an interesting discussion. Here's what I got out of it:
- Traditional media tends to be where dollars are still flowing - TV.
- Cable is seeing soft markets from general advertisers, but it's the common belief that the mid-term elections will pump dollars into local markets.
- Internet will continue to grow at a fast pace, but in the scope of total media dollars, the percentages are still small – on the high end 10% of media budgets.
- Look for anything 'video' online to produce good results. Meaning, advertisers are simply looking for more places to run video ads. (P.S. Minyanville is going all video all the time. We're going to call it…TV!)
The fact is, I left this event and turned to another analyst and said, "Wow! Now that was a real time warp." I'm living the late 1990's all over again. It didn't tell me anything I didn't already know, but I set my sights squarely on the cable operators in 4Q and some of the bugger media players. Time Warner (TWX) specifically is up around 20% since I wrote about it coming out of Minyans In the Mountains.
My first question is when is "new" media no longer new? Everything we're currently living today happened already. This is the second cycle or "Web 2.0." I propose we call it adolescent media. Think Brady Bunch: "When it's time to change, you've got to rearrange…"
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