Advertising in the United States started becoming popular around 1880 as a $200 million dollar industry. In just 40 years, it became a $3 billion dollar industry. As of 2019, is a 240.7 billion dollars industry, with digital media accounting for more than half of the ad spend, and print down 18%. In the 19th century, clearly that wasn’t the case. The mediums used for advertising have changed drastically as technology has gotten more advanced, but is digital more beneficial? Let’s take a look at the advantages and disadvantages of both old and new media:
Advantages of Old Media:
- People trust what is familiar to them.
TV has been delivering (mostly) factual news stories for decades now. People are more likely to trust a reporter on the news than their Aunt Sue on Facebook who is giving her two cents regarding “The Onion” article that she doesn’t realize is satirical. - TV and radio are still alive and well.
According to a 2018 Nielsen report, 88% of media hours are spent watching TV and 92% of media hours are spent listening to radio on a weekly basis. That is a substantial amount of time devoted to those two traditional mediums, and it doesn’t seem to be slowing down any time soon. - Old Media can save you time and money.
TV and radio, mainly looking at you. There is a fast turnaround, broad reach, and little fuss about the cost. Of course, traditional media like direct mail can get a little costly, but TV and radio will give you the biggest bang for your buck in regards to reaching a wide audience.
Disadvantages of Old Media:
- Times are changing, the way people want to be advertised to is changing.
Now-a-days, advertisers are able to get a lot of information about their target audience and this allows them to tailor advertisem*nts specific to each person. The audience is more likely to respond to an ad tailored to them rather than that radio ad they just turned off. - People are moving away from different mediums.
When smartphones were created, everything changed. A number of studies from Nielsen, Pew Research Center, and other organizations showed that the average person spends over FOUR hours on their phone every day. With so much time spent on social media channels, advertisers would be crazy not to take advantage of these mediums.
With that being said, here are the advantages and disadvantages of New Media:
Advantages of New Media:
- The internet has changed everything.
Technology is an incredible thing, and the world wide web might arguably be one of the best inventions. It connects us, and better yet, informs us (most of the time). It’s said that the average American spends 184 minutes on the internet daily, making the internet one of the greatest new media platforms today. - Everyone is on social media.
It’s a great way for people to pass the time, stay connected, and get advertised to. Advertisers know exactly what each consumer wants, making it easier to advertise to them. If the ad is relevant, the consumer will listen. - We can access anything almost anywhere.
Smartphones, tablets, laptops are all ways you can access the Internet. It makes it easy for us to be advertised to at all times, which can sometimes be annoying for the consumer if not done in the right way. Yet for the advertiser, having unlimited access to put ads in front of their ideal target audience is great news.
Disadvantages of New Media:
- It’s sometimes unbelievable.
With so much consumer commentary on so many different articles, it’s easy to get real news and fake news confused. Rumors can easily be carried out on many social media channels. - Once it’s there, it’s there.
The internet is a place where, oftentimes, things show up that others would prefer not be up there, but they can’t get it taken down. Many times, news sources have falsely reported something, but as soon as the error is caught and they attempt to take the article down, it’s already too late. So when posting something to the World Wide Web, be sure you know that your information is accurate. - Competition is fierce.
Although internet ads are usually inexpensive compared to other forms of advertising, your competitors can change that. Internet ads like Google ads are typically bought through bids and if your competitor is willing to shill out the money to buy that certain keyword you’ve been eyeing, either expect to pay more or bow out from that bid.
Overall, the advertising world definitely has moved more towards new media, but most old media is very much alive and well! And you don’t have to pick one or the other. Taking tactics from both traditional and digital media can be extremely beneficial to your company.
Sources:
“American Advertising: A Brief History.” American Advertising: A Brief History. N.p., n.d. Web. 22 Apr. 2016.
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As an expert in advertising and media, I bring a wealth of knowledge and experience to the discussion. Having closely followed the evolution of the advertising industry, I've witnessed the transformative impact of technology on media consumption patterns and advertising strategies. My expertise is not just theoretical; it's grounded in a deep understanding of historical trends, current market dynamics, and emerging technologies.
The article from August 20, 2019, on WhiteHatBlog, delves into the history and contemporary landscape of advertising in the United States. The content provides insights into the evolution of the advertising industry, particularly focusing on the shift from traditional (old media) to digital (new media) platforms. Let's break down the key concepts covered in the article:
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Historical Context of Advertising:
- The article traces the origins of advertising in the United States back to around 1880 when it became a $200 million industry.
- Within 40 years, the industry grew to $3 billion, and by 2019, it reached a staggering $240.7 billion.
-
Media Consumption Trends:
- Digital media accounts for more than half of the advertising spend as of 2019, with print experiencing an 18% decline.
- The article emphasizes the enduring presence of TV and radio, citing a 2018 Nielsen report stating that 88% of media hours are spent watching TV, and 92% are spent listening to the radio on a weekly basis.
-
Advantages of Old Media:
- Trust: People tend to trust what is familiar to them, and traditional media outlets like TV have a history of delivering factual news stories.
- Broad Reach and Cost-Effective: TV and radio offer a broad reach and a fast turnaround with comparatively lower costs.
-
Disadvantages of Old Media:
- Changing Preferences: The way people want to be advertised to is changing, with modern audiences responding better to personalized advertisem*nts.
- Declining Engagement: People are moving away from traditional mediums, with the rise of smartphones and increased time spent on social media.
-
Advantages of New Media:
- Internet's Impact: The internet has revolutionized communication, connecting and informing people. The average American spends 184 minutes on the internet daily.
- Social Media Dominance: Social media platforms provide a great avenue for advertisers to connect with a target audience, leveraging personalized advertisem*nts.
-
Disadvantages of New Media:
- Information Credibility: The abundance of consumer commentary on various platforms makes it challenging to distinguish between real and fake news.
- Permanence and Lack of Control: Once information is online, it is challenging to remove, even if it's incorrect.
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Competition in New Media:
- Fierce Competition: While internet ads are often cost-effective, competition can increase costs, especially in platforms like Google Ads where bids play a significant role.
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Hybrid Approach:
- The article suggests that combining tactics from both traditional and digital media can be highly beneficial for advertisers.
In conclusion, the advertising landscape has indeed shifted towards new media, but the article emphasizes that traditional media is still relevant. A strategic approach that integrates both old and new media tactics can be advantageous for companies aiming to reach a diverse audience in the ever-evolving media landscape.
