Legacy Media's Slice of the Social Commerce Economy - Jack Myers

Of the 466 billion invested last year in digital marketing and advertising 20 was targeted to legacy media companies TV magazines newspapers yellow pages outdoor radio etc By 2020 legacy media will capture only 13 of the 300 billion in estimated digital marketing and advertising investments Full details are reported in this weekamp8217s Jack Myers Media Business Report and are available to subscribers hereFor the next decade an estimated 50 of digital marketing growth will accrue to social media plus digital coupons and onlinemobile promotional investments aka Social Commerce Facebook Twitter Groupon Living Social and other social marketing and commerce leaders are positioned to capture a sizable chunk of these investments Legacy media companies such as Viacom Disney CBS Hearst Gannett Comcast NBCU and Clear Channel could step up their social engagement efforts and benefit greatly from marketersamp8217 growing commitments to social commerce The odds are they will not make the necessary investmentsAn economist studies the production distribution and consumption of goods and services For more than three decades Iamp8217ve studied the media industry from the perspectives of content producers distributors agencies advertisers and audiences As a media economist Iamp8217m fascinated by the impact of emerging technologies and how they influence economic variables across the media marketing information and entertainment ecosystem How marketers invest in social commerce over the next decade will play a primary role in determining the ultimate outcome of the current media transformation Publicly traded legacy media companies have consistently ceded the high ground of the media battlefield to venture funded companies such as Facebook Twitter My Yearbook Groupon and Living Social without investing in the modern social media weapons systems required to competeAs reported last week in Jack Myers Media Business Report network TV ad revenues will grow slowly but steadily for the next decade powered primarily by digital media budgets This may be good enough for Wall Street but it is a corporate failure of major dimensions Instead of declines or slow growth many established media companies with powerful content brands could capture double digit growth if they focused on social marketing and commerce opportunities Newspapers and yellow pages stood by passively as Google and Craigamp8217s List destroyed their classified and retail ad businesses Again newspapers News America and Valassis are failing to react as Groupon and Living Social dominate the group deal business The decline of legacy mediaamp8217s share of total digital ad budgets could be reversed with aggressive investments in social commerce but there are no indications on the horizon that will happenSOURCE Jack Myers Media Business Report Media ampamp Marketing Investment Forecast December 2010 Source details available hereThe detailed annual 20102020 forecasts for 55 media and marketing categories are available to subscribers at wwwjackmyerscom Subscribers have passcode access If you require your User ID andor password contact maryannjackmyerscomJack Myers can be reached at Jackmediadvisorygroupcom JackMyersThinkTank is free and underwritten as part of MediaBizBloggerscom by subscriptions to Jack Myers Media Business Report wwwjackmyerscom Subscribe free to all MediaBizBloggers reports at wwwMediaBizBloggers For Jack Myers Media Business Report subscription information visit wwwmyersreportcom or contact Jack Myers at Jackmediadvisorygroupcom Jack Myers and Media Advisory Group provide details on all underwriters and companies in which we have an investment at wwwjackmyerscom

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Legacy Media's Slice of the Social Commerce Economy - Jack Myers

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