With today’s announcements of ITV slashing 600 jobs in the UK as their profits down 41% year on year; is there a bigger issue here. Sure there could be a proportion of this announcement that is related to the global economy; but is there another element?
I have long lost count of the vast number of TV channels that are being broadcast. With the majority of these relying on advertising revenue to fund new programmes and turnover – there was got to be a huge number of programmes that are fighting over the number of potential advertisers.
That ‘pot’ of potential advertisers has to also be getting smaller; as marketers and creatives look at more profitable ways to spend their reduced marketing budgets!
With less marketing spend and less advertising revenue for traditional ‘passive’ media; such as TV then I suspect we might see a ‘cull’ in TV channels. This can only be a good things in my opinion. Hopefully the opportunity here is for the passive medias to find new ways to embrace interactive and online communities.
With that said, it is a worrying outcome that ITV is then selling off the Friends Reunited online presence – surely would it not make more sense look at how that can be used to create greater audiences and loyalty?
What’s your thoughts? Comments are always welcome…
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