As the US economy struggled in 2008, the Newspaper industry was hit hard. Very hard. In the years that followed, we witnessed the bankruptcy, failure, or firesale of some of the most recognized and respected media brands in the world.
Media companies such as the San Diego Union-Tribune went from being worth over $1 billion in 2004 to being sold for less than $50 million a few years later. While the newspaper sector took the biggest hit, we can expect to see this theme continue as the media industry evolves to incorporate the internet as a primary distribution channel.
While we know that big change is coming, we were curious to know what would happen in the short term. So, we connected with 10 of the top media industry leaders out there and we proposed the question: what will change in the media industry in 2017?
Here is what we learned….
Media Frenzy Global, LLC
“There are two major trends in 2017 that will aid in changing the media landscape. 1.) Fake vs. Real News. Fake news dominated 2016 so much Oxford dictionary announced “Post-Truth” as its 2016 International Word of the Year. As consumer’s media consumption increases, media outlets must continue to create compelling and real content to capture the attention of their audience, solidifying themselves as a credible source amidst this fake news era. Transparent, factual, shareable content will be what news outlets need to put the fake news stories to rest once and for all. 2.) Digital Continues to Rise. The next big platform is right in front of us: digital. Connectivity, now more than ever has a huge influence on how people consume media and make brand choices. Advertisers need use multiple media channels to reach and connect to their target. For example, it’s not guaranteed that a 30 second TV ad will have the same effect on Facebook or YouTube. Advertisers can’t be lazy in 2017; they must specifically craft messages differently on each medium for their target group.”
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