With the global economy on the ropes, many believed that television advertising was going to suffer.
And the death of television itself has been predicted for years as many argued that the accountability offered by digital advertising would eventually make television advertising a lot less compelling.
Yet according to a report in AdWeek, "national advertisers are expected to finalize fourth-quarter prime-time upfront advertising 'holds' to 'orders' of more than $2 billion."
AdWeek goes on to note that:
"...most advertisers will not abandon national television in the fourth quarter, with just about every marketer planning to spend as much, or even more, than they committed in the May upfront."
This has many people in the industry scratching their heads.
Interestingly, one of the media buyers AdWeek spoke to suggests that a contributor to the surprisingly resilient television advertising market is the digital advertising market that was expected to hurt it:
"One media buyer said he believes the broadcast networks' ability to offer digital ads as an extension of TV buys also has motivated many advertisers to stick with Plan A. 'I sense clients are realizing that TV and digital ads are very complementary, and driving TV viewers to a Web site for more information can help close a sale,' the buyer said."
If the synergies between television advertising and digital advertising are indeed contributing to the strong television advertising market, it's good news for everybody.
And it hints at the fact that there is considerable opportunity for those focused on integrated, multi-platform advertising deals that give media buyers packages that they feel are greater than the sum of their parts.
In other words, digital doesn't necessarily have to be positioned as a superior competitor to broadcast, print, etc. And broadcast, print, etc. doesn't necessarily need to feel threatened by digital.
I discussed the power of leveraging multiple platforms in a post on "integrated media" last year. In many cases, the principles of "integrated media" are readily applied to advertising.
Of course, those best positioned to take advantage of "integrated advertising" are broadcast networks and other big media companies. But his does not mean that there isn't an opportunity for agencies, consultants and entrepreneurs who take a holistic approach that seeks to combine the best of all worlds.
After all, the worlds of media and advertising have become highly-specialized over the years and there’s no 'formula' for putting together campaigns that bridge the gaps.
Thus, it's worth suggesting that those who will thrive in the media and advertising business today are those focus their energies on taking advantage of synergies, not those who are focused on creating conflicts.