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. Read more
Alibaba, China’s ambitious internet conglomerate, has spread its reach from e-commerce to finance, and now to internet television. Read more
Last year, 23m flat-screen television sets were sold in Japan. This year, according to AU Optronics, the third biggest flat panel maker in the world, there may only be 12m unit sold.
Impact from the earthquake and tsunami? The spirit of jishuku, or self-restraint, sweeping through Japanese consumers? Neither, says Paul Peng, executive vice-president of AUO. Rather, it is the end of the Y290bn ‘eco-point‘ stimulus programme that is threatening TV demand in Japan. Read more