Saturday, April 15, 2006
Follow The Money
byWhat started as a trickle has now become a torrent. Old media is moving to new media; old money is moving to new money. The real action is online.
Fox is going there.
ABC is going there.
Magazines are going there.
Newspapers are going there.
Radio is going there.
Old media got to be BIG old media by monetizing eyes and ears focused on its content. With those eyes and ears moving online, old media is now starting to follow. It is apparent from all the recent stories that some of the sleeping giants have bolted awake. Many were slow to start, but money often makes up for being late to the dance and having an incomplete education.
Apparently, one of the last groups to get on the cluetrain is the advertising industry. Speaking to other industry professionals at a recent American Association of Advertising Agencies convention, the New York Times quoted Ron Berger, chief executive and chief creative officer for Euro RSCG, “I think our industry would be better if agencies were as comfortable with change as we like to tell clients they should be.” He added, “I think our industry would be better if all of the people who speak at industry functions and say ‘It’s all about big ideas’ actually had a few.” Ouch!
