What does the local media company of the future look like?
At this point, the answer is pretty clear. There will be two kinds of media companies:
- Those that continue to focus on their traditional media channels — newspaper, broadcast television channel, radio station(s) — and therefore shrink along with the advertising spending on those media.
- Those that morph into local media houses that can connect any advertiser with any audience, through platforms, technologies and channels they own or don’t, to win dollars that are moving into digital advertising and marketing.
When your industry is undergoing massive disruption, getting a glimpse of the future is priceless. The more you know about where things are going, the smarter you can be about what to do right now.
For that reason, the report released earlier this month by Borrell Associates — “The Future of Legacy Media” — should be required reading for everyone responsible for the health and sustainability of any legacy media business in the United States and Canada. Read the rest of this entry