Our Predictions for Media & Advertising in 2013
Media and advertising is almost as old as mankind itself. 2,000 years ago, the Egyptians first began etching words and figures on tablets and scrolls. The roots of the modern telecommunications business were born in 1700’s. Modern computers were a direct result of technological advances made during World War II, which grew significantly more popular during the 1970’s.
The Three Have Become One
These three mediums used to be separate from one another, but now, they are intangibly linked. In terms of computing power, no industry consumes more than the media one, and there is no sign of its growth slowing or stopping anytime soon. If a conversation is powered by more than just a human voice, then it is being dominated by the media. As our technological capabilities grow, the walls that separate our world are being torn down one at a time.
It is interesting to note the lack of attention these changes are receiving.
Our Thoughts on Future Media Trends
It is going to be interesting to see how these trends develop in the next 10-20 years. We realize that a few of our predictions are going to be contradictions in their own right.
- Almost no one is going to personalize the advertising experience. While the advertising experience is not being personalized to any one consumer, each action the consumer takes is going to be monitored and recorded. Based upon this intricate link to data, the advertising experience will instead become heavily targeted.
- Consumers are going to want to see less advertising. Despite what their wishes may be, it is going to become virtually impossible for a person to go through an entire 60 seconds in their day without seeing advertisement in some form or fashion. For many of us, this is already happening.
- The world will become more global. At the same time, advertising is going to become more and more localized.
- Consumers are going to shape the future. The manner in which consumers choose to utilize available technology is going to be the most influential factor on the future of media at large. While consumers want to be able to trust the brands they know and love the most, they are also actively seeking out immediate engagement and gratification. To be successful, marketers will need to take the voice of the target demographic into account and adapt to it.
The more advertising a consumer is exposed too, the less they are going to “see”. As crowded as the media platform is, it has always been driven by data. The ability to separate media from target audiences has only just begun. As new innovations in advertising and digital technology become more commonplace, the media landscape is going to continue to change for both brands and consumers.
At Webati, we are seeing an increasing number of media forms shifting towards the description model. Most individuals simply do not want to have to fork over money each time they want to watch a movie or listen to music. Early winners in this game include Amazon, iTunes, and Hulu. The losers at this game are going to include television and cable companies, music labels, and newspapers.
On a going forward basis, it is going to be fascinating to watch which brands are left in the dust and which emerge victorious from the evolution.