Print newspapers and other media giants such as magazines and TV networks are experiencing a serious audience size decline world wide. Internet, blogs, social media and the mobile web has profoundly changed the media landscape and the way people consume information. These changes also applies to the advertising industry where old ad agencies are downsizing and Internet marketing service providers are booming.
Competition between major media powerhouses has almost become western style duels like in the movie The Good, the Bad and the Ugly. But the old mainstream media and the new Internet media are in many ways dependent on each other, articles and news items about blogging are popular – and blogging or tweeting about mainstream media is widespread. TV, newspapers and magazines are still influential, but the younger demographics increasingly use blogs, YouTube, Facebook and Twitter as their main sources of information and entertainment. Some blogs and Twitter profiles have several times the audience of established online media outlets.
The web has thus become dominant and this situation have paved the way for a whole new industry, the Internet marketing industry. Now there are thousands of Internet marketing providers that offers all kinds of online promotion on both search engines and social media sites. The marketing industry may have modified, but some things are the same.
A driving force behind the rise of blogs and social media sites such asYouTube, Facebook and Twitter could be a lack of interest in traditional news reporting and entertainment, especially among young people. The aspect of interaction, sharing and on demand entertainment is also an important factor in growing web usage. When potential customers use more time online, advertisers naturally turn to online marketing for more exposure. “Almost all companies want higher rankings, more traffic, conversions, Facebook fans, and Twitter followers,” says Gunnar Andreassen.
Smartphones and tablets are also transforming the media habits further, and the possible future transition of online entertainment and news from PC and smartphone displays back to the living room TV screen could shake up the situation further for mainstream media and new online media outlets. Apple and Google could be leading players in this huge paradigm shift, as both companies are reportedly developing PC/TV fusion products and services.