Changes in Advertising
There have been major changes in the advertising environment which are driving new forms of advertising. These changes are behind a second creative revolution as advertising agencies try to think of creative responses which will keep them at the centre of the brand and marketing communications world. The changes they face focus around the impact of Web 2.0 and mobile communication, the decline in newspapers readership and the fall in television advertising revenue, and the implications for funding models which drive business revenue through advertising.
Today the traditional funding model is no longer the natural order of things. In fact the world of old media has been turned on its head since media professionals now talk about ‘content’ as something which drives the consumption of advertising. Content could be news documentary, entertainment, opinion , indeed any communication form at all which has the potential to generate audience engagement. New media funding models are emerging because of various pressures, including the fragmentation of media audiences under the influence of new communications technology and de-regulated media markets. Spot advertising during commercial breaks on television or radio, classified and full colour advertising spreads in press publications, outdoor and cinema advertising all retain their high profile , audience reach and dramatic impact. But the advertising landscape is changing, for example is becoming pitted with many new media vehicles as digital technology reduces start up costs for print, internet and broad cast media. There are more megazines , television and radio channels than ever before. But the audience reach of each individual media vehicle has shrunk under increased competition and changing patterns of media consumption. This trend is evident all over the world. Some of these new media vehicles are not funded by the traditional model, social networking websites being the most striking example
Another pressure
Today the traditional funding model is no longer the natural order of things. In fact the world of old media has been turned on its head since media professionals now talk about ‘content’ as something which drives the consumption of advertising. Content could be news documentary, entertainment, opinion , indeed any communication form at all which has the potential to generate audience engagement. New media funding models are emerging because of various pressures, including the fragmentation of media audiences under the influence of new communications technology and de-regulated media markets. Spot advertising during commercial breaks on television or radio, classified and full colour advertising spreads in press publications, outdoor and cinema advertising all retain their high profile , audience reach and dramatic impact. But the advertising landscape is changing, for example is becoming pitted with many new media vehicles as digital technology reduces start up costs for print, internet and broad cast media. There are more megazines , television and radio channels than ever before. But the audience reach of each individual media vehicle has shrunk under increased competition and changing patterns of media consumption. This trend is evident all over the world. Some of these new media vehicles are not funded by the traditional model, social networking websites being the most striking example
Another pressure