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Last week I attended the NAB Show (National Association of Broadcasters) in Las Vegas and Internet advertising conference ad:tech in San Francisco.
More on NAB below. Quick take… big crowds around the digital production systems vendor’s booths and a lot of space in the aisles elsewhere. Zero length cab lines were a telling sign.
At ad:tech, there were some valuable panels with pragmatic information on advancing Net advertising and on digital media’s role as part of an overall advertising mix. On the other hand, there was atmospheric Internet boosterism. Here are some examples of the Net kool-aid that bumped my curmudgeon meter to 11 (and prompted some metrics in counterpoint – see below for details):
- A digital media exec said the "Internet will be everything in three years" (I won’t name names on the chance I didn’t write the quote down in my notebook correctly or in context)
- Cross-platform advertising strategies apparently didn’t exist before digital media (sorry planners of yore who only had TV, radio, newspapers, magazines, direct mail and outdoor to deal with)
- TV cord-cutting is sweeping the nation
- Creative is the new content. Or was it content is the new creative? Or was it consumer generated social media (or is it "earned media?") are the new content and creative?
I do acknowledge and celebrate the power of the Internet and digital technology in enabling an astonishing transformative impact on society, let alone content, commerce and advertising business models. The growth and impacts absolutely will continue. But… despite the world view one sees from San Francisco (where I reside), Manhattan or certain portions of LA – the Internet is not "everything."
Especially as it relates to advertising.
Let’s take a look at the mix of advertising spend in the US in 2008. The below chart combines ad spend estimates for non-Net segments from Robert Coen of Magna Global (as of December 2008), estimates for the Internet from the IAB/PWC and an estimate for local cable spending from the NCTA (plus my estimate for satellite/telco local avail spot).
Continue reading “ad:tech: A Bit of Reality To Go With Some Net Kool-Aid – NAB: A Tale of Two Shows”