4. Media Trends: Is Traditional Media Dead? Has social media lost its cool?

29 Nov

Traditional Media is Dead:

Traditional media is on the decline. Newspapers are entering bankruptcy, or are coming very close to bankruptcy.  The formats are old and slow and do not keep up with technology. Newspapers have been slow to adapt to online formats. The advent of the PVR has now made it possible for viewers to skip through commercials, making television advertisements highly ineffective. Digital media formats lead to many using iPods and other devices while they are driving instead of tuning into radio stations, lowering the effectiveness of radio advertisements. Magazines are dying off as content it is months behind the information available on the internet.

Social Media has lost its cool:

A friend of mine, Drago Adams ofAdamAdgroup stated “It seems the only people getting rich off of social media, are the people putting on seminars that “teach” people, how to get rich off of social media”. Many organizations believed social media was the new format to invest in, as well as believing the cost are low. However, many companies are disengaging from social media, unable to keep their pages under control from consumer complaints and other issues which clog social media sites. As well, miss timed, miss interrupted postings have come back to bite several retailers with negative publicity. Many use social media to connect with their friends and other users, not to look and click on advertisements. Major companies pulling out of the social media universe is a sign that social media is not as cool as it once was.

My stance:

Traditional media is alive and well, and not as dead as some would like to make it seem. Social Media may not be the one and only format some thought it would be, but it is an effective tool as well. Organizations must understand that traditional and social media formats are both needed to compete in today’s world. For example, a successful newspaper needs not only a traditional hardcopy of the newspaper, but a twitter page for constant updates, a website that is constantly updated, and a Facebook page to gage what is important to readers. All media formats must be used together efficiently as a total media package. The formats should not be considered as completely separate forms of media, but as complementary parts of an overall media strategy.

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