Ana Milicevic, Co-Founder at Sparrow Advisers, discusses the evolution of media, the challenges faced by local and traditional media in the digital age, and the changing landscape of television. They also explore the integration of advertising into media content as a solution for improving user experience.
The evolution of media has brought about challenges in defining what media truly is and how to navigate the changing landscape of consumption.
The decline of local media outlets and the need for a new sustainable model for local media is a pressing challenge.
Deep dives
Media: Definition, Rapid Acceleration, and Blurred Lines
Media has experienced rapid acceleration and a blurring of traditional boundaries in the past decade. The rise of technology and the internet has led to a shift from traditional forms of media to a more connected and always-on world. Media today encompasses various forms of communication, from professionally produced journalism to DIY tutorials and group chats. This evolution in media has brought about challenges in defining what media truly is and how to navigate the changing landscape of consumption.
The Challenging State of Local Media
Local media has undergone significant disruptions, particularly in the US market, due to the rise of the internet and the consolidation of classifieds on platforms like Craigslist. This has led to a decline in local media outlets, affecting their ability to provide quality journalism and relevant content to their communities. The economic model based on classifieds has been upended, and finding a new sustainable model for local media is a pressing challenge. While there is innovation happening in this space, the path to a healthy and sustainable local media environment is still uncertain.
The Transformation of the TV Landscape
Television, as a medium, has experienced significant change in recent years. The advent of streaming services and on-demand content has disrupted traditional linear TV models. Cable subscriptions have been declining, and the concept of a linear feed is becoming less dominant. The fragmentation of media consumption has challenged traditional TV companies to rethink their strategies and find new ways to program content. The transition to on-demand content presents both opportunities and difficulties for existing TV networks and content creators.
The Changing Landscape of Content Creation and the Challenges Faced
The term 'content creators' has become somewhat of a misnomer in the creative industry, suggesting a commodification of artistic work. The changing media landscape, with its focus on on-demand and diverse content, has brought about challenges for content creators. Issues such as economic imbalance and inadequate compensation have emerged, leading to recent strikes among writers and actors. The rise of low-budget and easily produced content, alongside high-end productions, has transformed the industry and necessitates a reassessment of the economic models and compensation structures for content creators.
In this episode Wayne is joined by Ana Milicevic, Co-Founder at Sparrow Advisers, a leading digital advisory firm.
Media is the location in which ads are consumed, so a pretty important topic for an advertising podcast to cover! Ana speaks about the evolution of media, particularly how the economics have changed, how different media channels have changed and what that means for advertisers.