Whoever finds the magic formula to create advertising revenue on the Internet the way it has been produced on television and in print ads will be a wealthy person themselves. It’s very interesting to read the tension and the stress that so many in this industry are going through as they not only struggle to keep what they do profitable, but also keep their jobs. I’m very well aware that advertising revenue pays my salary and making an advertiser mad could result in the loss of my job.
I think one of the important points those in this industry who are in the process of trying to come up with a new model for advertising need to keep in mind is to not get greedy. I look back at the 1980’s in the television industry when news was king on TV. Reporters from back then will brag about the days of a big story breaking in Washington DC and the station would fly them there on a moment’s notice to cover it. Pitching a story in another country and finding the funds to send a crew wasn’t a problem. Now just pitching an idea like that will have the bosses laughing in your face because they know there is no budget for it now or anytime in the near future.
The conversation surrounding new models for advertising will hopefully continue but in a more constructive way. Instead of people bashing those who try something different, such as paid content on the web, why not embrace the new idea and if it fails it fails. Without innovation we wouldn’t be in the place we are now.
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