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Advertising execs embrace new media

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Advertising executives are budgeting for and experimenting with new media platforms, according to a survey by the American Advertising Federation.

The survey of nearly 1,000 advertising, agency and media executives was conducted online in January.

Seventy-three percent of those surveyed said that up to 20% of their media budgets are allocated to experimenting with new media platforms. Even more significant, 12.4% said between 21% and 40% of their media budgets are so allocated.

New media, as defined by the survey, include social networking sites such as YouTube and Second Life, podcasts and online video.

"Executives have completely embraced the new-media environment," said Mary Hilton, VP-public affairs at the AAF. "They know it has to be part of their media mix and their marketing mix."

When asked about media planning for 2007, 78.0% of executives said they are open to new ways of using traditional media, while 75.5% said the right media mix includes a balance of traditional and nontraditional media.

The survey asked respondents to rank which media developments took them most by surprise in 2006.

The top response was the rush to Second Life (77.0%), followed by the rise of YouTube (61.0%).

The survey also found that newspapers (cited by 51.4%) are in the most need of innovation if they want to remain competitive, followed by network television (34.5%) and radio (33.8%).

Within the magazine category, business magazines (46.0%) are in most need of innovation, according to the survey, followed by women's service (25.0%), fashion and beauty (18.8%) and men's (17.0%).

Looking forward, 58.0% of respondents said they expect changes in the media landscape to happen even faster in 2007 than they did in 2006, 39.0% said changes would happen at about the same pace, and 3.0% said changes would happen more slowly

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