Recently, Bloomberg cited Citigroup Global Markets research, stating Google-based advertising spending may slow down.
Mark May, an analyst at Citigroup, said there are indications of a slowdown in the sector this year, which ultimately may drag the growth 1% -2% down below forecasts.
Although there are no specific figures on the forecasts, it seems to be an additional indicator the ‘race for clicks’ in the digital media industry is facing the downtrend.
The International Business Times recently published an article written by Max Willens entitled “What's Really Killing Digital Media: The Tyranny of Impression", explaining how the digital publishing turns out eroding their own potential of resources.
Briefly, the article describes how the digital media is sold with the same currency with the conventional media: the number of circulation versus the number of impressions. In fact, both are different businesses.
With this condition, a long and comprehensive journalism article values roughly the same or less valuable than a blog containing movie reviews written by teenagers.
Therefore, Willens says it makes a high-quality, expensive content a foolish business proposition, especially in a world with 72 hours of video, 204 million emails, and 277,000 tweets are published every minute.
That’s why, it is not surprising that digital media content slowly turns the same with social media content: no verification, no clarification, as long as it exists.
The content originality and quality is not important, since the more the contents are available, the more ‘clicks’ and impressions will be made. Instead of giving people useful information, digital media companies will eventually follow suit, cramming the cyberspace with mind-disturbing contents.
Back to Willens’ article, it led a growing of publishing, marketing, and technology companies, especially those who make high-quality contents, try to create a new currency to sell their digital media content rather than selling impression or clicks-based ads: time.
“The only way you can actually look at the amount of value someone's placed on content is how much time they're spending with it,” said Brendan Spain, the U.S. commercial director of the Financial Times, one of the publishers that has begun selling ads using time-based currency; it uses an hourly rate; as cited in Willens' article.
Separately, a large number of well-known publishers, including Time Inc., Hearst, and Condé Nast, have started selling a larger piece of their digital inventory based on how long they are viewed in an advertising network run by Webspectator.
This method is believed to be more profitable, more appreciative to comprehensive journalism works as compared click-bait –based contents.
Financial Times announced it would trade based on time starting in 2014, and since then it has executed more than 30 advertising campaigns from 24 companies, including those of well-known ones like Microsoft and BP.
At first, FT only applied this time-based advertising to companies that are already their advertising customers, but in recent months they have started offering to newly-approached companies that have not advertised before.
In developing countries' digital media industry, it is probably too far to take steps like the Financial Times. However, that does not mean they cannot start.
The first important point to start is to determine the target market. This target market is closely related to the brand name carried. Then, it is necessary to evaluate the content; whether or not it is already in line with the target market or audience. Don’t target the first class audience by presenting lower class contents.
Mark May, an analyst at Citigroup, said there are indications of a slowdown in the sector this year, which ultimately may drag the growth 1% -2% down below forecasts.
Although there are no specific figures on the forecasts, it seems to be an additional indicator the ‘race for clicks’ in the digital media industry is facing the downtrend.
The International Business Times recently published an article written by Max Willens entitled “What's Really Killing Digital Media: The Tyranny of Impression", explaining how the digital publishing turns out eroding their own potential of resources.
Briefly, the article describes how the digital media is sold with the same currency with the conventional media: the number of circulation versus the number of impressions. In fact, both are different businesses.
With this condition, a long and comprehensive journalism article values roughly the same or less valuable than a blog containing movie reviews written by teenagers.
Therefore, Willens says it makes a high-quality, expensive content a foolish business proposition, especially in a world with 72 hours of video, 204 million emails, and 277,000 tweets are published every minute.
That’s why, it is not surprising that digital media content slowly turns the same with social media content: no verification, no clarification, as long as it exists.
The content originality and quality is not important, since the more the contents are available, the more ‘clicks’ and impressions will be made. Instead of giving people useful information, digital media companies will eventually follow suit, cramming the cyberspace with mind-disturbing contents.
Back to Willens’ article, it led a growing of publishing, marketing, and technology companies, especially those who make high-quality contents, try to create a new currency to sell their digital media content rather than selling impression or clicks-based ads: time.
“The only way you can actually look at the amount of value someone's placed on content is how much time they're spending with it,” said Brendan Spain, the U.S. commercial director of the Financial Times, one of the publishers that has begun selling ads using time-based currency; it uses an hourly rate; as cited in Willens' article.
Separately, a large number of well-known publishers, including Time Inc., Hearst, and Condé Nast, have started selling a larger piece of their digital inventory based on how long they are viewed in an advertising network run by Webspectator.
This method is believed to be more profitable, more appreciative to comprehensive journalism works as compared click-bait –based contents.
Financial Times announced it would trade based on time starting in 2014, and since then it has executed more than 30 advertising campaigns from 24 companies, including those of well-known ones like Microsoft and BP.
At first, FT only applied this time-based advertising to companies that are already their advertising customers, but in recent months they have started offering to newly-approached companies that have not advertised before.
In developing countries' digital media industry, it is probably too far to take steps like the Financial Times. However, that does not mean they cannot start.
The first important point to start is to determine the target market. This target market is closely related to the brand name carried. Then, it is necessary to evaluate the content; whether or not it is already in line with the target market or audience. Don’t target the first class audience by presenting lower class contents.
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