OMMA at Advertising Week
WhereNew York City: Metropolitan Pavilion
Panel: The Media Commodity Economy
Time: 3:45 PM
In June, News Corp CEO Robert Thomson responded to Facebook’s News Feed update (which effectively demoted media content in user feeds), claiming that the social behemoth is undermining media companies’ businesses. He suggested media companies should band together to extend their reach so they can more forcefully compete with the likes of Facebook and Google. What is he suggesting here, that media companies build a competitor to these giants, or rather, that they create a large private exchange or sales consortium that puts them more in control of their ad sales? Either way, haven’t we seen this movie before? What leverage do media companies have on Google and Facebook? Conversely, has the dominance of their platforms turned news and entertainment into mere commodities?