Adapt or Die: Time To Face Media’s New Normal
Tyler Greer, head of strategy APAC, Exponential, argues that no matter what media you’re in, if it’s not an adaptable one then it could soon be a dead one.
Darwinism, contrary to popular misunderstanding, is not survival of the fittest. It is survival of the adaptable. Species that can adjust to changing environments carry on living, while those that fail to do so, that remain stubbornly, intractably unable to adjust, do not. Right now in media, the fight is on to stay alive.
The prevailing environmental change agent is digital, and it is impacting every media channel, not only in the way in which it speaks with its audience but in how it is assessed, reported on and judged. Digital itself is often the harbinger of this new world. The arrival and dominance of programmatic buying, fuelled by an infrastructural revolution in trading desks, has had a massive impact on digital businesses. Some have managed to pivot towards this new paradigm, others have either been slow to, been unwilling to, or have simply been unable to.
The same story is coming to TV, and with every step the medium takes towards a digital structure, the closer a programmatic buying model becomes. Regardless of the collateral damage for sales teams and the technologies that underpin current ratings systems, networks need to be planning for this new system, and doing so rapidly. The idea that a major network could never cease to exist is exactly the kind of attitude which will ultimately see them disappear.
Newspapers are a good example of this. Watching what has at times appeared to be the slow motion death throes of certain mastheads has been a painful experience for many. For others, it’s their own fault for not adapting to a new world in which they had ample opportunity to play a substantial role. True, print was always going to struggle in a system in which immediacy is the most valuable currency, but the ability to embrace digital, and to create a revenue model that supports it, has been too slow. Perhaps local mastheads were always going to struggle to hold on to audience when news can come from a variety of sources at such pace, but their failure to leverage the value of their classifieds has accelerated their decline.
Radio is now experiencing its own problems from disruptive digital players like Pandora and Spotify. Budgets that would have naturally gone to radio are now being divided, in at least some part, to these digital channels. This is critical for radio networks because it is now their money that is being culled, not digital dollars. How they adapt to this new normal is yet to be established, other than throwing ever increasing dollars at personalities and re-branding. And, like their counterparts above, buying models are likely to shift to a programmatic model in the near future.
Programmatic buying of outdoor inventory is being trialed, but the ability to take a tech-based interactive approach to outdoor will also change the game and the attribution model. How these connect to phones, cars and other devices will further impact those not ready to adapt.
What does this all means for brands, relying on their media agencies to help chart a route through this changing world? Many have adapted to new media buying technology by bringing the work in-house, building trading desks and sourcing media themselves. But others will struggle to survive in a landscape which increasingly social, connected and constantly fractured by disruptive competitors.
And all this while we try to get a grip on audience data and shifting behaviour.
Change, they say, is the only constant. But rarely has change come so fast and so dramatically to an industry; for anyone working in media and advertising this is both a time filled with promise and terror. Leaders who are able to integrate these seismic shifts will be of great value to companies. This is often the preserve of the young, who are more comfortable with change than their older counterparts, though this often elevates people into positions of responsibility who are not yet ready for management roles. It’s a tricky balance.
But it will only be those that get this balance right that will prevail.
Latest News
Kantar: AVOD Subscribers Double In 12 Months
Study finds Aussies happy to watch ads on their streaming services. Or, are they just putting the kettle on more often?
Val Morgan Digital Exceeds All Campaign Uplift Benchmarks Via A 12-Month Brand Metrics Study
Val Morgan announces it has exceeded all its campaign benchmarks. Still can't get under an hour for the City To Surf.
Australian Retirement Trust launches monster of a campaign, by M&C Saatchi and Bohemia
Get offered a seat on the bus today? Knees creak like an old pirate's galleon? This retirement ad may be of interest.
Print Audits To Discontinue As Audited Media Association Of Australia Pivots To Support Influencer Marketing
Is it just B&T or are audits in the media industry suddenly becoming murkier than Roxy's husband's tax returns?
News Corp Australia Launches 2024 National Education Advocacy Initiative With Expanded Program
News Corp set to shine a light on the nation's schools in new series, giving illegal bikie gangs a well-earned rest.
Decoding The Consumer Maze: Urban List Report Reveals How Modern Shoppers Spiral From Discovery To Purchase
Latest report unravels a shopper's journey from the joy of discovery through to a nasty letter from a debt collector.
Cosmo Returns To Australia!
Ever get the feeling we've weirdly warped back to 1988 at the moment? Confirm it with the relaunch of Cosmo in print.
People & Culture Consultancy Human Kind Collective Launches To Plug HR Gap For Media Agencies
Does the very mention of HR have you struggling to remember last year's Christmas party? Get the sweats with this news.
‘We Want To Be A Growth Partner, Not Just A Media Buyer Or Someone That Makes Ads’ – Bohemia Boss On Agency’s Ambition
B&T's chatting with Bohemia boss Paul ‘Hutch’ Hutchison. Although we do think 'the dagger' a far superior nickname.
Initiative’s Geoff Clarke: ‘Youth Hits Targets With Enthusiasm, Experience Hits The Targets You Can’t See’
Initiative’s CCO Geoff Clarke on the value of experience in agencies. Not to mention quoting lines from Pulp Fiction.
The Iconic Teams Up With 5 Aussie Athletes For Latest Campaign
Fashion label brings in the athletes for new campaign, many of whom appear to have prepped with re-runs of Zoolander.
Seven West Media Secures New Director Of News & Current Affairs
After a tumultuous few weeks, Seven unveils director of news & current affairs. And B&T never uses tumultuous lightly.
Seven Network Expands NSW Sales Team With Two New Group Business Directors
Seven ramps up its NSW sales team. Both of whom are well versed in pronouncing Manu Feildel's croque-monsieur.
New PR Subscription Changing The Game For Aussie Start Ups
Need better PR? You can now buy it via a monthly subscription. Price does not include a fascinator or Moet piccolos.
Paul Kent At Centre Of Fresh Scandal After Alleged Street Brawl
Do you long for the fights, gouges & testicle grabs of footy's glory years? So too, it appears, does Paul Kent.
DiDi Taps Disney’s Tim Farmer For Head Of Brand Marketing Role
Disney's Tim Farmer shifts over to rideshare company DiDi. Taking with him his Donald Duck coffee mug & mouse ears.
As Sure As Night Becomes Day, The End Of Third-Party Cookies Has Been Delayed
The question remains: what will we see first? The end of cookies, alien invasion or Jesus's second coming?
Fast 10: Scoundrel’s Tim Bullock Explains What Shane Warne & Salt-N-Pepa Have In Common
It's a Fast 10 with Scoundrel's Tim Bullock. Make it sound even faster by sucking on helium while reading it.
Outbrain Snatches Chris Oxley From Foxtel Media
Foxtel's Chris Oxley shifts over to Outbrain, but not before having his press photo taken in the wilds of the Daintree.
oOh!media & POLY Partner With Greening Australia For OOH Awareness Campaign
Like to quell the road rage with super cute pics of fluffy marsupials? This outdoor's just the ticket.
Are Media Cares For The Carers In Its Latest Social Change Campaign
Are Media calls on the government to add super payments to carers' payments. Remains silent on AUKUS, however.
In A Fragmented World, Engagement Is King
Today, B&T TV's talking fragmentation & engagement. But not in a down-on-one-knee sense of the word.
Kyle Sandilands On Advertising: “We Want Return Business. It’s No Good Just Taking Someone’s Money”
Kyle & Jackie O finally arrive on Melbourne radio. As yet, no sign of the monotonous and bitter AFL-NRL debate.
Sydney Comedy Festival: Taking The City & Social Media By Storm
Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]
Global Marketers Descend For AANA’s RESET For Growth
The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]
Is Meta’s New AI Chatbot Too Left-Wing?
Meta's chatbot accused of being left-wing after being caught wearing a Che Guevara T-shirt & listening to Billy Bragg.
TV Ratings (23/04/2024): Why Did No One Tell Angela That Farmer Wants A Wife Is Set On A Farm?
As wonderful as this headline is, let's face it, we all know an 'Angela', don't we?
PubMatic Unveils New AI Partnership To Turn Social Posts Into Ads For Any Digital Channel
Here's some nifty tech for turning social posts into ads. Assuming said posts aren't one-star character assassinations.
Intuit Mailchimp Makes A Splash With Its First Australian Brand Campaign
Ever laugh along at a gag you didn't get so as not to appear dumb? Get ready for more feigning with this new work.
GumGum’s Rob Hall: Advertisers Can No Longer “Rely On Binary Descriptions” Of Consumers
If anyone's got their finger on adtech's pulse, it's Rob Hall. He also avoids using the good paper in the office printer
Mastercard Nabs Florencia Aimo From Marriott International
Marriott International's Florencia Aimo jumps from the hotel business to the exploitative credit card one.
Bastion Agency Appoints Cheuk Chiang As New ANZ CEO
Cheuk Chiang takes the reins over at Bastion Agency. But not the rains down in Africa.
Spotlight On Sponsors: Major Sponsorship Wins After A Disappointing Week In Sport
B&T continuing our deep dive into local sport sponsorships & that's despite not a single offer of a free ticket as yet.
Macca’s Marketing Director, Samantha McLeod On Big Mac Chant: “What Was Once Old Is Now Cool Again”
Macca's using the power of nostalgia in latest Big Mac campaign. Well, only for those who've ever eaten one sober.
World Premiere Of Midnight Oil: The Hardest Line To Open Sydney Film Festival 2024
Oil's biopic to open Sydney Film Festival. Here's hoping Molly Meldrum will take his pants down at the premiere.
Entries Are Now Open For The 2024 Brandies, IntelligenceBank’s Annual Brand Marketing Awards
The Brandies are, of course, a prestigious marketing gong and not the mystery tipple favoured by nannas everywhere.