$600 billion was spent on traditional advertising during 2014, but there is a new advertising approach happening right now, which is a throwback to a bygone age: Brands are shifting away from traditional TV commercials to funding and sponsoring documentaries, television programs and specials, and films.
Brands will emerge as the film and TV moguls of the future.
Sponsored programs are not new. In the late ’40s, brands like Texaco and Admiral sponsored some of the earliest TV shows starring Milton Berle and Sid Caesar. In the 1950’s and 60’s, the term “soap opera” was coined because shows were sponsored by soap brands like Procter & Gamble.
Today, every brand and everyone in the advertising and broadcast industries are faced with a similar challenge- and opportunity. Our challenge now is that consumers are no longer watching traditional TV. Most consumers under the age of 40 do not have cable. The future of advertising is transforming, shifting away from television, billboards and magazine ads to platforms like Netflix, HULU and Amazon.
The 30-second commercial is dying. Consumers ignore or fast forward through ads on their smart phone or computer. In order to reach customers, brands are now in the content business. How do forward-looking brands and advertising agencies adapt to this brave new world?
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