A fabulous article in Fortune magazine about the future of advertising.
But while the modern world knits itself ever more closely together, advertising is becoming increasingly disconnected—from its historical base, its business models, and its audiences. Thanks to the Internet, advertising is going through its first true paradigm shift since the advent of television half a century ago. As a result, your average executive in the ad or media business is feeling as lonely and unstable as a 30-foot sailboat with a broken keel foundering in the swells of a Category 2 hurricane. Pass the Dramamine.
But no need to get all self-righteous. There is life in the old dog, or at least the concept of a dog (advertising) yet. It is morphing and migrating to online powerhouses, eyeball attractors and niche aggregators. Search engines, megaportals and other creatures of the online underworld will carry on the growth of attention-seeking industry. However, it is bad news for some…
But today’s big ad agencies might not. As descendants of the firms that invented modern advertising, they face the buggy-whip-manufacturer problem: the fact that full-on paradigm shifts are rarely kind to incumbents.
There is a special report that covers those who might be the future.