Our Media is terribly exposed to the inefficiencies of the advertising industry!
The substantial revenue generated by the broadcast and cable up front is more a result of long-standing process than logic. The billions of dollars/pounds/yen generated for the broadcast and cable networks persist on this imprecise practice of guaranteeing a reach of demographic viewers. Nielsen Co. and others are struggling to improve their techniques for measuring audiences for this medium at a time when television programming is extended to more digital platforms than ever before, and a click of a computer mouse can render a frighteningly detailed snapshot of a user.
The smart advertisers simply doesn't care if frequent YouTube visitors watch less television because they plan to be on whatever media platform best facilitates their connection with target consumers at a cost-effective price. How much and how fast advertisers shift their spending around from television to interactive media platforms is the billion dollar question-a perturbing answer to which will give way to a slew of new advertising business models to go around.
The nagging dichotomy between advertising form, function and price on traditional TV and on the Internet is in the process of rendering a new hybrid standard to extend across all media platforms.
The huge sums broadcasters pay to land programmes and presenters are an indication of the weakness of the media. For example Channel Five paid 300m over 10 years to land the Australian soap "Neighbours" and poached newsreader Natasha Kaplinsky from the BBC. And the very source that funds such indiscriminate purchasing behaviour is advertising. And Customers are growing increasingly disenchanted with their overall television experience and dislike TV advertising more than anything else on the box, according to a recent survey.
Given the vast amounts of advertising monies sloshing around it is no wonder that dishonest practices and corruption are rife within all these industries. And, until the whole inefficient edifice collapses (which it undoubtedly will) you can bet that Top-Down-Management will dream up even more dishonest tricks. Because for business the bottom line comes firstthe customer can wait!
The rather old fashioned concept that the Customers deserve honesty is given short shrift these days.
"Hamilton roped into his sponsor's stunt: is this what you call the pits?" is the headline in the Times. In the pantheon of ridiculous publicity stunts it may rate among the greatest. Lewis Hamilton was required to take on the role of the Greek God Apollo in the sacking of Troy in one of the sport's more bizarre moments.
Vodafone is spending 300 million over five years in support of Hamilton's Formula One team who, in turn is set to earn 75 million over the next five years.
Now this nearly 400 million is all sponsorship money (another word for advertising) and is just one example as to just how utterly futile and wasteful this advertising business has become. There is no doubt, the inmates are running the asylum!
And the corruption within the TV industry is astonishing, to say the least. "BBC keeps children in need of cash for itself" is the latest in a long line of dishonest practices practised by the BBC and Commercial TV.
And, whether you like it or not the root cause is the insane pursuit of ratings, ratings demanded by the advertising industry.
In another hammer blow to TV's reputation, the BBC has been ordered by its own ruling body, the BBC Trust, to apologize for the scandal on air.
News of this little racket came 24 hours after ITV was fined 5.7 million for conning 8 million from telephone voters to top-rated shows. It also emerged that a British Comedy Award for presenters Ant and Dec had been "fixed"
The real irony here is that it is all so meaningless, despite the rush to increase ratings, viewers are just not taking delivery of all those obnoxious TV commercial messages, when the break comes on they do a whole host of other activities!
But then the ultimate dishonesty is the fact that advertising is totally unaccountable with no evidence that "advertising works". So all this ripping off of the viewers is a total waste of time, the children in need could have received their cash and the viewers need not have paid out 8 million in telephone rip offs!