What is the Future of Media and Advertising?

Are media companies content producers agencies research providers and marketers responding with sufficient speed and vision to the changing media ecosystem Many including most Wall St analysts and consultants believe they are But while several media companies agencies and marketers are responding aggressively to the growing reality of today39s threats few if any are prepared for the very real possibility of a freefall collapse of legacy business models that is likely to occur within the next decade While corporate leaders from the big media companies agencies and hot digital players introduce innovative business offers tests currencies collaboratives tools and new organizational structures there is no evidence that more than a handful of them are truly prepared to confront and survive the longterm dangers that lie ahead The winners and losers for the next several decades will be decided based on their decisions in the next 48months the aggressiveness and determination with which they make and act upon their decisions and how visionary they prove to beSeveral leadingedge media companies are investing aggressively in data sciences ROI based performance measures social media analytics promotional marketing platforms branded content and a wide spectrum of compelling value propositions The challenge is to convert these offerings from onetime quotshiny new objectsquot to scalable and sustainable advanced businesses Too many shiny new objects quickly rust Unless these offerings prove profitable for both media sellers and marketers and can be integrated into agency systems and processes their longterm value is questionableInnovative strategic insights research relationships and marketing platforms need a redesign to successfully navigate these chaotic times and succeed in a new media world We need to acknowledge as an industry thattraditional advertising metrics and currencies are losing relevance and valuethe emerging technological landscape requires that media companies commit to new business and organizational modelsadvertising creative messages and storytelling require a complete overhaul as traditional advertising loses viabilitynew media revenue streams need to be identified and developed as traditional advertising and subscription models are challengedin times of accelerating change and marketplace chaos companies that fail to aggressively adapt are likely to be passed by competitors who respond forcefully to meet the challenges of the futureThanks to the current vitality of the media and advertising marketplace like Pink Floyd many of us in advertising can be quotcomfortably numbquot We continue to forge ahead with confidence that our world while transforming remains relatively stable and secure For the next few years the penalties for moving too slowly will be minimal But in the longterm unless we invest now in truly innovative and advanced business models our security will be threatened It39s alltooeasy to push major decisions to future generations of industry leaders Leadership is defined by providing the foundation for success when that future is today and we can feel the painamp160amp160

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What is the Future of Media and Advertising?

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What is the Future of Media and Advertising?

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