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It all started on HotWired, the website alter ego of Wired Magazine, 15 years ago today. From SAI:
“On October 27, 1994, HotWired.com hosted ads from Volvo, AT&T, MCI, Club Med, Zima (!) and 1-800-Collect. Frank D’Angelo, founder and partner of CL&S, the ad agency behind a few of the ads, writes on Ad Age today that one of the banners reached an astounding 78% click-through rate.”
We’re now spending 17% of our online time with social networking sites, up from 6% last August. From Read/Write Web:
“According to new figures from Nielsen, the amount of time spent surfing social networking and blogging sites had tripled since last year, suggesting ‘a wholesale change in the way the Internet is used,’ says Jon Gibs, VP of media and agency insights at the company’s online division….”
As a result:
“Even as companies decreased their overall ad expenditures, they increased their spend on top social networks and blogs — up 119% from last year. ($108 million in August 2009 up from $49 million in August 2008). And when broken down by category, the increases are even more dramatic. The entertainment industry, for example, has increased spending by 812% year-over-year on social network sites and the travel industry increased spending by 364%.”
(Thanks, Dave!)
Source Silicon Alley Insider.
Only cable TV eked out more ad revenue in the first half of 2009 than it did in the first half of last year. Internet was down 1%. The rest is mostly bad news: An industry-wide contraction of more than 15%, with the usual suspects feeling the most pain.
That’s according to Adify sales data assembled as a Chart of the Day at SAI. No surprises in the composition of the top 3. It’s interesting, though, to see the categories that are experiencing a post-recession bounce: tech, food and real estate.
Forrester’s Josh Bernoff publishes his firm’s latest findings on ad spending and the share of that spending that will go to online. From his column in Ad Age:
“In this recession, marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent. While budgets for online have decreased, they decreased less than other budgets. Six out of ten marketers we surveyed agreed with the statement ‘we will increase budget for interactive by shifting money away from traditional marketing.” Only 7% said “we have no plans to increase our marketing budget.’ ….More than half of the marketers we surveyed said that effectiveness of direct mail, TV, magazines, outdoor, newspapers, and radio would stay the same or decrease within three years. In contrast, well over 70% expected the effectiveness of channels like created social media, online video, and mobile marketing to increase. The result is that digital, which will be about 12% of overall advertising spend in 2009, is likely to grow to about 21% in five years. Along the way overall advertising budgets won’t grow much.”
“Media hasn’t become social. It always was. I talked about the latest Dukes of Hazzard episode with anyone who would listen in 1980…. The difference now is that media is social with SCALE.” Freedomland divx
Right on. That’s from Pete Spande at Continuous Beta
.
From @bmorrissey:
“Media organizations haven’t adapted. They’re structured in much the same way as they were before the Internet. They bought this fallacy that it would be an additional distribution channel. So instead of radically changing their businesses and cost structures, they fiddled….
“But focusing on Google is pointless. It’s time to reinvent media properties rather than look for government subsidies or trying to shake down Google. My bet is the innovation won’t happen within media companies. They’re too slow, too conservative and too culturally wedded to defunct processes to make the leap. That doesn’t mean all hope is lost. I’m encouraged by the strides made by publications like NewWest.net and all the independent technology publications (I won’t call them simply blogs) that have filled the void capably. The media model for the Internet will be nimbler, have a drastically lower cost base and figure out new ad models that actually excite marketers.”
As the Boingers like to say when they agree with something: +1, Mr Morrissey.
My colleague Pete Spande will be leading the next class in the IAB Certificate in Interactive Advertising
program: Marketing with Social Media and Networks. From the course description:
“Social media and social networking applications are two of the fastest growing segments of the internet. This class will provide an overview of the major players in the space and successful strategies for leveraging these online communities for marketing purposes.”
If you want to kiss up to the professor in advance, start following his Twitter feed.The Lazarus Child on dvdSudden Death movie download
