Society Sobriety (pt3) New Media Iceberg

CapitolHillTitanicWith the combined GFC and new media paradigm shifts, traditional media has been feeling the pinch. Once all-powerful, media conglomerates may have steered themselves into an iceberg sensationalizing the GFC, encouraging shareholders to abandon a sinking ship. Its no surprise to see Rupert Murdoch’s authoritative announcement that the GFC has bottomed out.

Captain Murdoch has personally assured passengers that no iceberg will sink his Titanic. But I wouldn’t count on a lifeboat if you’re anything less than a first class passenger…

Now we’re seeing similar hysteria in the ad industry. Russel Howcroft, of GPY&R and Gruen Transfer fame, has called for an industry stimulus package in AdNews (via mUmBRELLA). He posits that since the local film industry gets incentives, why shouldn’t the ad industry receive a similar stimulus? I’m unsure whether he’s joking, despite the inane comparison of industries, it certainly read as being serious. It smacks of desperation asking for handouts, like a US car manufacturer on the brink of bankruptcy. Mr Howcroft thinking he needs government handouts is symptomatic of a dire lack of confidence to generate demand through good old fashioned ideas and smart strategies.

<< Society Sobriety (pt2) Blockbuster to Bankbuster

Society Sobriety (pt4) Spank-a-Bank >>

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