Can someone who has spent little to no time working in advertising really cover it?
Or is it even better that way?
In the conclusion of my recent "exit interview" with legendary New York Times ad industry columnist Stuart Elliott, we discuss what it was like to cover such a idiosyncratic industry without much first-hand experience in the business.
How did being one step removed hinder - or help?
As Elliott says goodbye to the Times, we'll get his views on that topic.
And we'll try one last time to get his predictions for what's next in the world of advertising. His response is worth noting even for those of us who do work in this crazy, wonderful industry.
CLICK HERE TO LISTEN TO: FAREWELL Q&A WITH STUART ELLIOTT: WHAT I SAW AT THE REVOLUTION (CONCLUSION): UNCERTAINTY CERTAIN
Listen to Part One here: What I Saw at the Revolution
Listen to Part Two here: The Rise & Risks of Content Marketing
Listen to Part Three here: Change is (On) the Air
First up, kudos to CBS for ‘getting it’. Steaming live video to tablets is an absolute no brainer. There were almost 50 million tablets sold world wide last quarter. That is a lot of consumers.
So, let me say ‘thank you’ to CBS on behalf of the millions (I am betting that there were millions) of consumers who took advantage of the live stream. It certainly provided consumers the flexibility and choice we deserve when it comes to watching the biggest sporting event in the country.
Now, if you were only watching the big game on your tablet that would be fine. You would be very, very happy.
However, I made the mistake of having the television on at the same time as having the live stream on my iPad on my lap (I am sure many others did this as well).
The issue - and I don’t know if it was my connection or the WiFi I was on or if it is a technical limitation of live stream - but the stream to the tablet lagged the television coverage. It was not a short lag, it was considerable. At one stage in the first quarter, I got out the... Read more
Fox is a very self-aware company about the trouble the network TV business is in. First, the network reacted to Cablevision taking them off the air in a carriage fee dispute by blocking Cablevision ISP subscribers from Hulu, showing that they understand that the network is unnecessary if you want to watch Glee. Now Jim Gianopulos, the chairman of the 20th Century Fox movie studio is scolding cinemas for annoying customers by cluttering the pre-show screen with ads when the audience is used to being able to skip ads with their DVR.
The irony is that theater owners are doing the thing that TV networks used to be able to do quite well: monetize a captive audience. Mr. Gianopulos told the truth -- people don't like having their attention hijacked. Just because they are captive doesn't mean they will accept being hawked at.
The NY Times article that reported this implies that Mr. Gianopulos issued this statement as a partial explanation for the 20% Q1 decline in theatrical revenue. If people are so upset about ads screaming at them that they will avoid seeing a first run movie in its exclusive theatrical run, what does that say... Read more
This weekend, Fox stations began to disappear from the NY-based Cablevision system, which provides service to about 3 million homes. The rhetoric is about News Corp’s greed or about Cablevision’s unwillingness to fairly compensate News Corp for the value of their programming. That’s the battle, but not the war.
We are seeing more and more disputes between cable operators and networks over carriage fees. The reason for this is that ad-supported networks are preparing for the day when they can’t support the cost of programming through ad revenue. In fact, they already rely on carriage fees. But as more and more viewers look at cable only as a pipe filled with shows and live viewing dwindles, the audience is skipping the ads. As advertisers realize that so many of the impressions they are buying are being delivered but not seen, the advertising income line on a network’s balance sheet will soften. That loss will need to be made up somewhere else, and the most obvious else is carriage fees.
We have been studying the audience that is removing itself from interruptive advertising’s reach and it is a very large audience. They aren’t... Read more