Sometimes, what is about to happen is self-obvious, even to a duffer like me:
Via All Twitter.
Buy less print, more TV, more radio and a dollop of digital/social says WPP CEO. Some interesting quotes on where Sir Martin Sorrell sees the future of media. Even more interesting that he was talking at a Financial Times conference, a newspaper with a strong online presence conference and I was reading it on the Guardian’s website.
On WWP spending vs. consumer trends:
“TV viewing is about 43% of consumers’ time, [ad] investment is 43%, outdoor [advertising] and radio are about right…The two big [anomalies] are newspapers and magazines. We are still investing 20% [of client ad budgets] but consumers are only spending 7-10% of time. That has to change”.
On where digital plays into this:
The second anomaly is [the] internet and mobile where in the US it counts for about a third of time spent by consumers, but that the ad spend level is about 20%.
On technology companies really being media companies:
“I do regard Google as a media owner, yes. These are media owners masquerading as technology companies. Google sells Google, Facebook sells Facebook. Twitter sells Twitter.”
On who he sees as the winners in this seismic change:
“If I was going to invest money in all these stocks where would invest my money? I would in Google and Amazon. If buying for my grandkids that is where I would put it.”
I was also interested in seeing where budgets from WPP were spent. Google gets $2bn, AOL/Yahoo got $500m, Facebook got $200m and the amount Twitter got was “very much smaller”. In context, he said that WPP spends $72bn.
Disclosure: Martin Sorrell is CEO of WPP, the primary competitor to Omnicom, the company that I ultimately work for.
Blogs allowed anyone with an internet connection to be a publisher.
MySpace/Facebook allowed anyone to connect with anyone else.
YouTube allowed anyone with a video camera to connect their videos with an audience.
Foursquare allowed anyone with a phone to connect with places, and eventually people.
Twitter allowed anyone with writer’s block to share their thoughts.
Instagram allowed anyone with a phone to seem like an accomplished and sophisticated photographer.
GetGlue allowed anyone to connect with their favourite programming.
airbnb allows anyone online to connect with spare bedrooms.
Pinterest allowed anyone with desire to connect with those things they coveted.
Now, Vine allows anyone with a phone to connect with their inner film student: https://vine.co/v/bnu5Q9YtaY3
Technology and the internet have combined to connect us with information, with people, with objects and now our desires and emotions.