World Without Media - What Will Fill the Void? From the Inbound Marketing Summit, 10/8/09
We are witnessing the rapid collapse of media institutions that have existed for more than a century. The newspaper industry is undergoing a process of ritual destruction. Broadcast markets are fragmenting into a patchwork of special interests. The next generation of consumers relies on Facebook friends to deliver the kind of value formerly provided by The New York Times.These trends are scary to those of us who have grown up in a world of mass media, but they are inevitable and they will ultimately give birth to a new breed of special interest media that will be richer, more diverse and less predictable than the institutions they replace. For now, we're in an uneasy middle stage: Trusted institutions are going away but the institutions that will replace them have yet to be defined. What does the media landscape of the future look like and what does this mean for businesses that are trying to reach their constituents?
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World Without Media - What Will Fill the Void? From the Inbound Marketing Summit, 10/8/09
- 1. World Without Media: What Will Fill the Void? Paul Gillin Author, The New Influencers and Secrets of Social Media Marketing
- 2. Mainstream Media Collapse Decline in circulation of top 10 newspapers in 2008: 635,000 Average age of US daily newspaper reader: 57 Reduction in US newsroom staffs since 2001: 45% Growth in NBC prime time audience, 2008: -14.3% Age of average network evening news viewer: 63 TV Guide was sold in October for $1, or $2 less than a single copy. 2009 TV station ad revenue to drop 20 - 30% (Bernstein Research) Cost of reaching 1,000 households with 30-second TV spot in 1986: $8.28 In 2008: $22.65 (Media Dynamics) 2001 circ. 2009 circ. Change Woman’s Day 1.61M 410,000 -74% Redbook 556,300 154,600 -72% Playboy 522,800 203,200 -71% Country Living 380,200 134,900 -64% National Enquirer 1.65M 591,300 -64% Reader’s Digest 750,000 270,000 -64% ESPN Magazine 54,350 25,200 -63% US Magazine Circulations
- 3. New Media Facts Teens watch 60% less TV than their parents. They spend 600% more time online (Arthur W. Page report) Twitter membership up 1,400% last year (Nielsen) If Facebook was a country, it would be world’s fifth largest % of Americans under 33 on social networking sites: 67 % over 55: 9 Word-of-mouth marketing spending to hit $3B by 2013 One-third of Americans under 40 say the Daily Show and Colbert Report are replacing traditional news outlets.
- 4. You Read it Here First Source: Gallup (Dec., 08)
- 5. From This…
- 6. To This
- 9. Do You Know This Person?
- 10. The New Media Structure BLOGGERS ADVERTISERS PUBLISHERS MEDIA BLOGGERS EDITORS JOURNALISTS CONSUMERS
- 13. √ Trust
- 14. Filling the Void
- 18. The Future of Media Is… Small Aggregated Inclusive Community-driven Conversational Fast Flexible Experimental
- 19. Community as Content By contributing to the body of knowledge, members gain insights they couldn’t learn from experts alone Personal finance Travel planning Local services Language education Travel planning How-to video
- 20. Thank you! Paul Gillin 508-202-9807 paul@gillin.com www.gillin.com Twitter: pgillin On Amazon or NewInfluencers.com On Amazon or SSMMBook.com