Many media brands will fade as liquidity and deals begin flowing in an economic recovery and companies strengthen their value proposition though consolidation or integration of strategic businesses.
Despite the recession, total online ad spending in 2009 should hit a record $24.5 billion (growing only 4.5%), while grabbing at least 1% of overall market share annual through 2013, when it should total $37.2 billion. For traditional media to hold its own, it needs to fix broken business models.
Emerging from the recessionary abyss will be a long, arduous task. Unless media businesses alter their infrastructure, processes, expectations and strategies, improved financials are not assured. There is no more business as usual; there are only ways to avoid the pitfalls.
Jonathan Miller's appointment as chief digital officer at News Corp. underscores the retrenchment of big media, which will see more shifting assets, redefined leadership and new business models around evolving interactive applications. Eventually, all media will be new media.