Television’s $70bn advertising business isn’t dead yet. So says John Wren, chief executive of Omnicom, one of the world’s biggest advertising companies.
But Mr Wren’s message on Tuesday may be cold comfort to network executives who are seeing digital outlets grab more money once firmly earmarked for broadcast and cable.
“I believe that trend will continue. I don’t think TV’s dead,” Mr Wren told investors on Omnicom’s earnings call on Tuesday. He is the latest industry executive to acknowledge that the digital ad business is getting a boost from the proliferation of online content and from the valuable targeting data held by companies like Facebook.
First it was Vice, then came Buzzfeed. Now, Ozy has become the latest news start-up aimed at young, digital natives to ramp up its offering on the back of a new injection of cash.
The California company backed by German publisher Axel Springer and Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, is stepping up advertising and has hired Jonathan Dahl to become news editor from the Wall Street Journal.
Research In Motion unveils the BlackBerry 10 today amid the greatest degree of anticipation and scrutiny in the company’s history. At events in New York, Toronto and London, the Canadian manufacturer is launching a new operating system and two smartphones.
The company and CEO Thorsten Heins are betting it will secure RIM’s future – and even its survival – in a tough marketplace where it has lost share to Apple’s iPhone and Android-based devices.