The last place you’d expect to discover a map to navigate the future of the content-advertising landscape would be a book about the golden age of radio. But damn it all to hell, there it is on the concluding 12 pages of Cynthia B. Meyers’ new book, A Word From Our Sponsor: Admen, Advertising, and the Golden Age of Radio.
What’s more dangerous to consumer well-being, sponsored content or the intervention of the Federal Trade Commission? On Wednesday, the agency held a conference, “Blurred Lines: Advertising or Content,” to “discuss native advertising,” as the New York Times put it. The event attracted several hundred “advertisers, academics and media executives,” who listened to the agency’s views about native advertising — or sponsored content, infomercial, or advertorial, as some call it — those Web ads that are designed to look like editorial content, not ads.
Sometime in the mid-1990s, the Web began to peel from the daily American newspaper bundle its most commercial elements, essentially the editorial sections against which advertisements could be reliably sold. Coverage of sports, business and market news, entertainment and culture, gossip, shopping, and travel still ran in daily newspapers, but the audience steadily shifted to Web sources for this sort of news. Broadcasters had dented newspaper hegemony decades ago, absconding with breaking news and weather coverage, and inventing new audience pleasers, such as traffic reports and talk. But it was the Web that completed the disintegration of the newspaper bundle that dominated the news media market for more than a century. In addition to pinching the most commercial coverage from newspapers, the Web has also made off with the institution’s lucrative classified ads market, simultaneously reducing its status as the premier venue for content and advertising.
The Washington Post‘s website joined the sponsored-content stampede early this week with the introduction of its BrandConnect Web product, making it the first major U.S. newspaper to embrace sponsored content, according to Digiday. Other high-profile Web publishers selling sponsored content include Gawker, Huffington Post, Business Insider, Forbes, BuzzFeed, Slate, Cheezburger, Techmeme and The Atlantic. Meanwhile, Fortune magazine is creating Fortune-branded content “for marketers to distribute on their own platforms,” AdWeek reports.
In his 2004 book The Vanishing Newspaper: Saving Journalism in the Information Age, Philip Meyer imagined “the final stages” of a “squeeze scenario” by a newspaper owner who wanted to exit the business but didn’t want to actually sell the title: He would start charging more for his newspaper and delivering less, commencing the “slow liquidation” of his property. This slow liquidation would not be immediately apparent to observers, Meyer wrote, because the asset “being converted to cash” would be “goodwill” – the newspaper’s standing in the community and the habit of advertisers and subscribers of giving it money.