These are the precise questions that my startup, Knowitall.tv, is trying to answer. What will advertising look like as video programming and advertising dollars shift to the web? Where are those advertising dollars going to go, who will decide on the content these dollars will fund, and who will provide this content?
I think the most important thing Garfield notes in this article is the huge shift in power has occurred with the advent of dvr and web video. People don't have to sit through flashy, in-your-face ads that shout 'buy me!.' These ads can be fast-forwarded or deleted. On the web, the attention span of the viewer is drastically reduced by the sheer volume and choice of content. Why would I watch an ad when I don't have to on this site over here? The audience is no longer captive. The student has become the teacher. We are in charge.
Advertising and networks are not doomed in any sense. However, traditional, 'flashy' ads will have to be replaced by more informative, interactive, gentle, pull advertising content. Think product placement, contests, video games, informational videos... Ad content will also be interactive-the best way to extend the short-attention span of the average web user. Just because networks are reeling in costs does in no way mean that they are 'over.'
Yes, traditional purveyors of advertising and large networks should be concerned, but only if they do not adapt to this huge shift in power. These networks and ad companies became successful because of innovation and I am sure they will temper the storm. However, who should be taking close note of this market shift is ambitious independent producers and content providers. There is a huge gap in the market for a few companies to sneak in and make an absolute killing.
To summarize: Because the viewer is in charge, ads in the future will inform rather than entertain, engage rather than impress, so really, the only question to answer is, what do the end users want to know and from whom?
I believe local expertise and endorsement to be the untapped goldmine of this 'new' advertising.
I think the most important thing Garfield notes in this article is the huge shift in power has occurred with the advent of dvr and web video. People don't have to sit through flashy, in-your-face ads that shout 'buy me!.' These ads can be fast-forwarded or deleted. On the web, the attention span of the viewer is drastically reduced by the sheer volume and choice of content. Why would I watch an ad when I don't have to on this site over here? The audience is no longer captive. The student has become the teacher. We are in charge.
Advertising and networks are not doomed in any sense. However, traditional, 'flashy' ads will have to be replaced by more informative, interactive, gentle, pull advertising content. Think product placement, contests, video games, informational videos... Ad content will also be interactive-the best way to extend the short-attention span of the average web user. Just because networks are reeling in costs does in no way mean that they are 'over.' Yes, traditional purveyors of advertising and large networks should be concerned, but only if they do not adapt to this huge shift in power. These networks and ad companies became successful because of innovation and I am sure they will temper the storm. However, who should be taking close note of this market shift is ambitious independent producers and content providers. There is a huge gap in the market for a few companies to sneak in and make an absolute killing.
To summarize: Because the viewer is in charge, ads in the future will inform rather than entertain, engage rather than impress, so really, the only question to answer is, what do the end users want to know and from whom? I believe local expertise and endorsement to be the untapped goldmine of this 'new' advertising.