The Business of Digital Media: Part 3
No media buyer ever got fired for buying a 30-second spot on ‘Seinfeld.’ But that was during the last gasp of the broadcast age. Now we’re into the narrowcasting age, in which media buyers have to figure out the best way to, say, buy a network of blogs. What’s more, media buyers (and media companies) have to make sure which blog networks are appropriate for their customers’ brands. It’s not an enviable task, particulary with the squeeze on media budgets due to the downward economy.
In the third installment of ‘The Business of Digital Media,’ we tackle how user-generated content is changing the way media companies and advertising agencies do business. John Koten, CEO and Editor in Chief of Mansueto Ventures, which publishes Inc. and Fast Company magazines, is a big believer in social publishing, but adds the caveat that serving up online communities can’t be a “free for all.”
The challenge is crafting user-generated content in a way that makes it attractive to marketers. Think of a well-lit place online that carries provocative conversation (about a particular market sector) rather than gratuitous potshots.
Koten and Jonathan Shapiro, CEO of digital ad agency MediaWhiz, provide some much-needed advice on how media companies and ad agencies can successfully channel the blogsophere as a sales vehicle. Also on the agenda: how media companies need to a better job of distinguishing their print content from their Web site(s) and the crucial role print plays in a digital age.
Steve Ennen, managing director of the Wharton Interactive Media Initiative, The Wharton School, University of Pennsylvania, and Matthew Schwartz, Senior Editor of ScribeMedia.org, help to steer the discussion.
ScribeMedia recently teamed up with Wharton Business School’s Interactive Media Initiative and Media Industry Investment Bank Berkery Noyes to produce a four part WebTV series on The Business of Digital Media. Links to the four discussions, along with names of participants, are provided below.
Speakers
Tim Andree, CEO of ad agency Dentsu America
Lauren Wiener, Senior VP of Meredith Interactive
Jeff Reinhardt, Managing Director of media investment bank Berkery Noyes
Matthew Schwartz, Senior Editor of ScribeMedia.orgSpeakers
John Koten, CEO and Editor in Chief of Mansueto Ventures
Jonathan Shapiro, CEO of digital ad agency MediaWhiz
Steve Ennen, Managing Director of the Wharton Interactive Media Initiative, The Wharton School, University of Pennsylvania
Matthew Schwartz, Senior Editor of ScribeMedia.orgSpeakers
Jonathan Shapiro, CEO of digital ad agency MediaWhiz
Terri Walter, VP-Emerging Media at digital ad agency Avenue A/Razorfish
Steve Ennen, Managing Director of the Wharton Interactive Media Initiative, The Wharton School, University of Pennsylvania
Jeff Reinhardt, Managing Director of media investment bank Berkery NoyesMergers & Acquisitions: Strategic Companies and Private Equity Players
Speakers
Lauren Wiener, senior VP of Meredith Interactive
Robert Nolan, Jr., Managing Partner of private equity firm Halyard Capital
Jeff Reinhardt, Managing Director of Berkery Noyes
Matthew Schwartz, Senior Editor of ScribeMedia.org
Matthew Schwartz is Senior Editor of ScribeMedia.org and host of the WebTV series, From Print to Digital.
Discussion
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