Digital Remains Bright
With the prospect of a recession on everyone's mind, now is a good time to take a step back and look at some of the trends in our digital industry. It's not the doom and gloom we're seeing elsewhere in the economy. Though not at the triple-digit rates we saw in the mid-2000s, growth is continuing at a healthy pace.
Here's a roundup of some of the recent chatter out there:
AdAge points out that marketers are shifting their budgets to focus on better interactivity, entertainment and engagement rather than traditional media. This has resulted in a 22% increase in alternative media spending in 2007. 2008 is predicted to clock in at a healthy 20.2% increase. article
Fortune warns of the risk big media faces during a recession if they don't embrace and innovate in digital. Newspapers and magazines continue to see their print profits decline every quarter, while their digital revenues tick up. article
News.com takes a look at the rise in online ad spending through AvenueA/Razorfish. One exec says, "If there is a widespread recession, all advertisers will be impacted, but digital is more insulated than other channels" because of the accountability it offers -- the ability to track its effectiveness better than other types of advertising, he said. article
Over at Critical Mass, David Armano outlines 10 ideas for using digital to survive during a recession. article
Jung again
One of my star pupils at Portfolio Center is interning with us another quarter. Greet Lauren Jung.
