Why traditional media will survive the Social Media Age

Traditional media is immersed in a war like none it’s ever known ~ as Social media networking sites expand and flaunt ridiculous user numbers. Sites enjoy a ready made audience at their beck and call,But – it’s not over for traditional media.. not yet.

TV

You won’t hear it from them, but the recession has hit local TV networks hard. Layoffs by the droves, forced unpaid vacations, pooling resources, wage and hiring freezes.. all moves to stay a float in as shaky an economy as an Executive can remember. TV stations know the power of the media.. So you won’t hear their woes and concerns broadcast on their early am or evening shows. No way. Stations will keep on chugging along finding ways to cut the proverbial dollar in half and still look like their spending a buck fifty.

But, despite the troubled economy, most advertisers are not drastically cutting their national TV ad budgets for next season. TV stations are cross promoting online in hopes of reaching out and touching audiences. They hope to get local viewers involved in their newscasts. At the same time driving them to their sites and promising in depth looks "tonight at 5!" TV.. will continue to make its money ~ as long as they can continue to be creative.

RADIO

The radio business has been struggling lately, to say the least. Traditional, terrestrial radio hasn't found a way to successfully box out competition from Sirius XM Satellite, internet streaming radio, iPods, and other sources. Plus fewer people are in their cars driving to work lately, so the ratings numbers are down. Not to mention the monotonous nature of much of today's music. It's no surprise, then, that the radio advertising business recently saw its worst quarter in history. The Radio Advertising Bureau says combined national and local ad spending dropped 26% to $2.8 billion during the last quarter. The one silver lining was digital platforms including online, streaming, and HD Radio, which collectively saw revenue jump 13%.
Traditional radio is all but dead. Too much competition. Recession will kill the radio star but online radio comes to the rescue.

NEWSPAPERS

The fishwraps.. hmmmm. These dudes have been waving the white flag like crazy. Recanting their “woe is me tales” to counterparts – who are all equally eager to share recession tales. Just like TV, Newspapers are pairing down staffing and forcing employees to multitask and taking on greater responsibilities for the same or less pay. The reason why Newspapers devote a good junk of media space to detailing its “fall from glory” is simple: they’re hoping for someone.. anyone to save them from an inevitable demise. Kindle won’t save the newspaper industry. Don’t get me wrong.. The big dogs are in it for the long haul. The little dogs however ~ may need to switch gears. It will simply be difficult to charge readers for something they used to get for free or extremely cheap. When newspapers made the leap online years ago, they neglected to put much effort into developing revenue sources from online content. Not that it’s too late now.. But it won’t be the same.. Especially when the advertising dollar is harder to come by. As I mentioned, the tried and true will find ways to partner with digital media without losing dignity. On a brighter note – a new study shows that print media drives online leads. So - if you're looking to sell advertising... pick up your local paper and get to cold calling!

MAGAZINES

What recession?? Despite drops in subscription rates, new magazines are being launched every other week. But.. the focus is different. As the economy lurches, glossy magazines scramble to downsize a luxury-living message for an anxious readership.. urging subscribers to save money and offering ways to handle the recession. Unlike newspapers – magazines have tried to hold on to its content by offering single articles or short stories online – merely to promote what’s in the mag. But face it… even in more prosperous times, for the vast majority of readers of fashion rags, pawing through pages of pictures of wait-listed handbags and "architectural shoes" has always been pure fantasy, not akin to shopping in a catalog. Look for more Editorial/Advertising pieces as magazines look for ways to sneak attach promote its sponsors.

Bottom line.. nearly anyone can promote a product or even themselves online via social media networking sites. Everyone’s a star. But the credibility comes from TV, Mags and Newspapers. That’s where you stand out. Promoting your business, product, book or yourself on TV or in Magazines is the goal of most entrepreneurs. Twitter is a prime example. With all the juice this site has – your first big advertising thought is to take your show on the road and land on a TV network?? Wow.

Another added plus for TV is that unlike social media IT ACTUALLY IS SOCIAL. Coming together for MNF.. Olympics.. Superbowls.. Boxing matches.. major news events. When's the last time you invited 5 people over to watch you tweet?

Sure there will always be some cross promotion and blurring of the lines, traditional media is here to stay ~ on one site or another.