What is the story about?
What's Happening?
An industry coalition named Advertising: Who Cares? (AWC) is advocating for increased ad spend on high-quality media channels. The group, consisting of 70 active members and 700 supporters, is set to meet in London to propose solutions to the declining ad spend on traditional media. The coalition aims to address the imbalance caused by the rise of digital channels, which now account for 81.6% of ad revenues, while print media's share continues to decline. The movement seeks to highlight the benefits of investing in quality media, which is considered brand effective and safe. The coalition is also working to debunk 'brand safety' concerns that prevent ads from being served alongside news stories, arguing that advertising in high-quality news environments can increase trust and effectiveness.
Why It's Important?
The shift in ad spend from traditional to digital channels has significant implications for the media industry. As digital channels dominate, traditional media outlets face financial challenges, leading to closures or shifts to non-advertising revenue streams. The AWC coalition's efforts to restore ad spend to quality media channels could help sustain these outlets, ensuring the availability of high-quality news and entertainment. This is crucial for maintaining a diverse media ecosystem that supports informed public discourse. Additionally, advertisers stand to benefit from the increased effectiveness and trust associated with ads placed in high-quality media environments, potentially leading to better brand outcomes.
What's Next?
The AWC coalition plans to continue advocating for a balanced media spend that supports both digital and traditional channels. They aim to make quality media buys more transparent and straightforward, encouraging advertisers to invest in high-quality media. The coalition will also focus on educating advertisers about the benefits of advertising in premium news environments, countering misconceptions about brand safety. As the industry evolves, the coalition's efforts could influence media buying strategies, potentially leading to a resurgence in ad spend on traditional channels.
Beyond the Headlines
The coalition's advocacy highlights broader societal implications, emphasizing the role of advertising in funding quality media. By supporting high-quality news and entertainment, advertisers contribute to a well-informed public and a robust media ecosystem. The movement also underscores the importance of balancing digital and traditional media investments to ensure diverse and reliable content sources.
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