There's blood bath out there for the traditional media as new media seems to be gaining the attention of marketers. According to American Advertising Federation, non-traditional media in the US is now attracting an average 15% of marketing budgets.
Interesting findings and more importantly to me service providers like Ad agencies, DM agencies, interactive agencies and the like need to take notice of how technology is driving the morphing of various specializations. This disruption is hitting their business here and now. Couple of years back, no one from the ad agency would talk about TV on Web and the interactive guys would not talk Web on TV! It all seems to be coming together.
I hate the word non-traditional media, new media etc. being used as it distances and builds further barriers amongst current communication professionals and agencies a lot. I would rather like to use the word convergent media or conversational media or collaborative media as it is far more inclusive.
According to the ARF survey:
- 73% of those surveyed said they allocated up to 20% of their spend on new and experimental media.
- Marketers also said traditional media had to innovate to stay competitive. Those most in need of a novel approach and reinvention, according to the report, were newspapers (51.4%), network television (34.5%) and radio (33.8%).
- Of the 1,000 industry executives polled, 80% believed the pace of media innovation was faster in 2006 than in the previous year, while nearly 60% thought the pace would quicken even more this year.
- 86% of those polled had foreseen the mushrooming of TV programs via the web, while 80% were unfazed by the wide adoption of SMS messaging.
- The rush to advertise in the Second Life virtual community caught most executives by surprise, with 77% saying they did not see it coming
- 61% were caught on the hop by the advance of video sharing website YouTube.
Here's the presentation for you to take a look at the findings:
https://s3.amazonaws.com:443/slideshare/ssplayer.swf?id=23297&doc=new-media-wave-20538