Tumultuous times in the advertising and media industries. When it all shakes out, will the blogosphere and other online cottage industries be in the mix? It's a fascinating time period that we suspect will be analyzed and discussed by industry experts and, later, historians for many years.
Hollywood is about to deliver bad news to the Los Angeles Times and The New York Times and, to a lesser extent, other big-city dailies around the country. Every major movie studio is rethinking its reliably humongous display ad buys in those papers because those newsosaur readers are, to quote one mogul, “older and elitist” compared to younger, low-brow filmgoers – so it makes no sense to waste the dough.
Wait, it gets worse: I've learned that at least two Hollywood movie studios have decided to drastically cut their newspaper display ads as soon as possible.
This news couldn't occur at a worse time for the LAT and NYT, which both receive the lion's share of those very showy $100,000-plus full-page after full-page movie display ads.
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