How Traditional Media fit into Today’s Digital Landscape
Both TV and newspapers are still very much relevant to today’s world, so long as they could integrate digital into their strategy.
TV- TV nowadays is a very different experience than it was in 1941, when TV advertisement first began airing in the U.S. While many people have proclaimed the death of TV, it is actually very healthy and alive and it is very social. According to a Nielsen research, the average American watches over 35 hours of TV per week, (Nielsen) in spite of the rise in online and mobile video viewing. Thus the internet has not killed TV; it has actually become its best friend. It is a companion for the growing masses of TV viewers who are simultaneously going online while tuning in to their favorite shows. Most recently, Comcast made a deal with Twitter and roll out a feature called “See It”. Comcaster customers will be able to reach some TV shows from Twitter messages about those shows. This technology and practice will definitely bridge the connection of TV and the social web. These two media platforms are enhancing each other. (http://www.nytimes.com/2013/10/10/business/media/through-twitter-partnership-comcast-hopes-to-encourage-tv-viewing.html?_r=0). While these medias are competing for Ad dollars, the blending of media channels has created new opportunities for marketers to reach and engage with their target audiences. This shifting TV landscape is not just affecting advertising creative, but also how agencies plan and buy media. They must look at the larger cross-channel media experience that occurs nowadays with TV audiences in order to maximize their brand’s impact within an ever-increasing distracted world.
Newspapers, traditional publishers:
Newspaper industry in the US has lost more than $40 billion in advertising revenue in the past decade. People have declared the death of newspapers with the emerging of internet and social media. However, I believe that newspapers will survive, but in a different form. Newspapers provide great content that people still look for and newspapers are still the first source of information for people. Newspapers need to discover how to best transform the delivery of this information. According to a research, 37 percent of all visits to the New York Times, including the website, mobile site, and apps, came from mobile devices, up from 28 percent in 2011. Therefore, news organizations need to not only think about “digital first” strategy, but also “mobile first”. Newspapers have quality content and information that people value, so long as they could incorporate “digital first” and “mobile first” into their strategy, there’s still hope. The general consensus from the experts is that the internet won’t kill newspapers, but will change the way they operate with fewer printed editions. (http://blog.realmatch.com/news-publishers/experts-predict-the-future-of-traditional-newspapers/) However, the relationship between the news organization and advertiser has forever changed. Back in the day, news organizations were able to charge a premium to advertisers because local businesses didn’t have many other choices for advertising. Furthermore, it wasn’t easy to measure advertising effectiveness when advertising was supporting newspapers, radio, and television. The internet changed all that. Now advertisers can measure advertising effectiveness more accurately, and they can reach potential customers much more cheaply. Under the old model, the publisher brought the audience and the advertisers paid the publisher for access to that audience. Now Advertisers buy on an impression basis through real time bidding. The pricing mechanism is basically an auction model.