Washington, D.C.—Advertising and media executives are budgeting for and experimenting with new media platforms, according to a survey by the American Advertising Federation.
Seventy-three percent of the nearly 1,000 advertising and media executives surveyed said up to 20% of their marketing budgets are allocated to using and experimenting with new media platforms.
Even more significant, 12.4% of respondents said between 21% and 40% of their marketing budget is allocated to using and experimenting with new media.
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%) are in most need of innovation, followed by women's service (25%), fashion and beauty (18.8%) and men's (17.0%), according to the survey.