The way we get our news is changing. Every morning and throughout the day people around the world log on to Twitter to find out what is making headlines, new key developments on topics of interest, and what is “trending” – literally and figuratively. And Twitter is not the only social media network being utilized to gather news and check for updates. Facebook’s “Timeline” offers users the ability to share news articles within their network. Many social media users will check various social media sites more often than they may like to admit, looking for news or articles posted by “friends.”
The New York Times may have caused a stir when it introduced a paywall to access unlimited news content, but for many people, established news organizations are no longer that critical. After all, they don’t have to look beyond their social networks to find the news they want. Critically, with this shift in media consumption, advertising dollars are shifting too – the industry is going social. Based on exponential increases in ad spend on social and digital networks, a recent BIA/Kelsey study predicts that social media ad spending will grow significantly over the next few years, from $4.7 billion last year, to $11 billion in 2017.
THE WAY I SEE IT
I see the shift to social continuing and more advertisers spending less on traditional media including digital news outlets, TV, and print, and spending more on social networks.
- I see the shift to social continuing and more advertisers spending less on traditional media including digital news outlets, TV, and print, and spending more on social networks.
- I see continued mobile growth with more consumers accessing digital media and social media on mobile devices, which will mean increased ad spend in mobile as well.
- I see more brands choosing to expand their presence on social networks beyond pure advertising with Twitter accounts, Facebook pages, and Instagram feeds, engaging with fans and consumers by sharing promotions, content, photos, and product information.