We have been talking a lot about different ways for companies to advertise and promote their products and services. In an article we read today called Media Mix, Rupert Murdoch gave us his views on how traditional companies need to adapt to the changing technology in news media. This coming from Rupert Murdoch is a significant thing. He is a global media mogul and has always been involved in traditional media. From the New York Times to Fox, newspapers and television are faced with many challenged reaching the masses. People do not want to be told anymore the news. they want to participate and interact with one another about current issues in the world today. That is one reason why blogs and message boards are becoming more popular. People can subscribe to newspapers online, watch TV shows online, record TV shows using products like TiVo, and much more. All of these enable people to get whatever they want when they want it which in turn puts traditional media on the back burner. Murdoch explains that traditional media companies like himself, can take advantage of these new opportunities evolving and adapt to the new technologies. He also shows that although people want to interact with one another and voice their news, content quality is still needed and companies that can put out and oversee that quality information is being written will win in the end. Murdoch has already hopped on the bandwagon and adapted to the change by buying MySpace $580 million!
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1 comment:
I also enjoyed the article we read in class about the Media Mix. This issue is so pertinent especially in this class where we are learning about the importance of the Internet in marketing, and basically all aspects of business. The mediums through which people are seeking information may be changing, but the need for that information is still definitely there. So it is essential for those traditional advertisers to adapt if they still want to stay in the game. And yes, I would definitely say Murdoch is jumping on the bandwagon paying that kind of money for MySpace - talk about a pretty penny.
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