Remaking Legacy Media Companies – What’s the problem !

I especially like this quote from the interview –   “Media watcher Jeff Jarvis, who had the best take on Smith’s move to Bloomberg, summed it up well: “[Smith] saw that he had to take on the role of an advertising agency, no longer just sell…ing space on a page, print or digital, but offering creative and marketing services to advertisers […] all in all, his real lesson to the industry is to change the relationship of media to marketer.” It’s not like this is a new concept. This is a strategy that we have been advocating for years…Publishers have been SLOW to move dramatically in this direction. Organizations like Meredith & Hearst have jumped on…Everywhere we still see alot of organizations..Time Inc, Conde Nast and others who haven’t been agressive in this move to be digital marketing services companies…and as a result…are failing as the market shifts towards digital delivery on tablet & mobile platforms.   Marketers want to work with partners who help them solve their problems…not just display their advertising…Smith is one of the guys that “got it”and who understood the importance of ad revenue to the bottom line in the overall business model.   There are a few others. Many more are still attending conferences and listening to folks like Smith and who lack the courage and compassion to transform their businesses. In time, they will see the the value of their organizations diminish and have no one to fault but themselves.

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