What the new media buying economy means for your advertising strategy
The media buying economy has undoubtedly evolved over the years, but with the consumption of content continuing to increase by the day, our landscape today is battling just how exponential these changes are. Dave Mooney, head of planning at BCM Group, explains why brands need to see media planning as a creative act, in order to keep up.
In recent conversations with clients, it doesn’t take long for the topic to drift towards the proliferation of content. Access is practically limitless. Streaming services, online libraries, social media, forums, blogs, wikis, websites… the list goes on. From classic films and documentaries to niche podcasts and interactive experiences, there is something out there for everyone… yes, even you… you weirdo.
With access at an all-time high and the ability for anyone with half an idea and an iPhone to create something, is there any surprise that the traditional content capitals of terrestrial TV are beginning to fall flat? As we enter the content renascence, the time has come for a new media buying economy.
Every single day, 70,000 new tracks are uploaded to Spotify. YouTube sees 30,000 hours of new content uploaded each hour. There are roughly 3 million unique podcasts, while on Twitch 7.5M streamers are broadcast globally. The explosion of content has created new channels to democratise access and through channels such as TikTok, specificity prospers.
