Traditional TV Advertising is Dying, Long Live Social Media
We all know how badly TV broadcasters have been hit with TV Advertising revenues dropping, in particular in the recession. Many people have talked about how “interruption marketing” is no longer effective or profitable. So to try and alleviate the problems at ITV and other broadcasters the government has lifted a ban on product placement on television programs in the UK.
Basically what this means is that TV programs and broadcasters can be paid to include particular branded names in their programming. The only product placement that stands in my mind is in Talladega Nights during the beginning of his prayer:
I don’t know about you guys, but personally I don’t mind it. It does highlight how much people spending more time on the Internet than watching TV is affecting broadcaster profits. Social media is effectively replacing television – people can share videos on YouTube and discuss them over Twitter or on Facebook. Not only are people abandoning TV, but they are also abandoning newspapers – traditional newspapers that haven’t embraced the web are struggling – newspaper advertisements just don’t perform any more. All this goes towards growing PPC, SEO and social media – so at least there is a silver lining for those of us on the cutting edge of marketing