Each week, we will look at industry news curated by MediaScope. This week we look at the definition of media in the digital and how creative in advertising is being devalued.
What you’ll need to build the agency of the future (Bryan Wiener – AdAge)
There is both peril and promise for everyone in this industry, whether agencies, media owners or brands. In the last six years, consumer behavior has continued to change exponentially, to the point where two of the most dominant platforms – Instagram and Snapchat – didn’t even exist when I first visited this topic. And yet the infrastructure at most clients and agencies still feels heavily analog. Marketing, as a profession, is in real trouble if we keep letting consumers lap us. While there will undoubtedly be more than one model for success, a lead agency of the future must have at least these three core areas of expertise.
MasterCard’s Head of Media: It’s hard for us to pay agencies fairly when they’re making money on the side (Tanya Dua – Digiday)
In the wake of the Association of National Advertisers much-publicized report about agency media-buying practices in the US this summer, marketers seem to finally be waking up to the issue of transparency. Several brands – including J.P. Morgan Chase, General Electric and Sears – are reportedly halting media budgets and conducting outside audits, as reported by Business Insider and the Wall Street Journal. MasterCard is being a little more coy about its approach.
What is media in the digital age? (Nelson Granados – Forbes)
Media can now be the message, the medium, or the messenger; and to complicate things, in this digital age, the lines between them are becoming very blurry. News feeds like Yahoo News contain sponsored stories that look like news. Ad placements in movies are common practice. What used to be a clear delineation between creative content, advertising and non-fiction is being challenged by new media such as short-form content. And different forms of media in the physical world, like text, movies, music and games, can be merged in the digital space to create a multi-media consumer experience (think World of Warcraft). The media landscape is getting more complex for industry executives who are trying to make strategic decisions and for consumers who are deluged with new forms of media and consumption.
Five things we learned at Monetising Media ’16 (Digital Media – TheMediaBriefing)
Each year the Monetising Media conference is held in London with a focus on media business and revenue models. Here are five takeouts including “Diversity is Opportunity” and “Technology enables, but human judgement is always necessary”.
The devaluation of creative (Recent keynote transcript – TheAdContrarian)
“Over the past few years, I have been doing a lot of traveling and speaking about advertising. Wherever I go in the world, I invariably hear the same two themes. First is that advertising has become less effective. And second is that advertising is less creative. It is hard for me to believe that these two things are not related. The problem we are facing today, I’m afraid, is that the creative side of our business is being devalued. Creativity is quickly and quietly becoming a support service. The alarming thing about this is that I believe creativity is the agency business’s only unique value to clients. Everything else agencies do clients can get somewhere else…”