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The Pivot to Advertising Has Begun
Stepping back, though we should probably ask where all these ad budgets are coming from, and, more importantly, where the growth for internet advertising will come from next. The obvious answer is television: print is mostly already gone, but ‘TV’ viewing is now finally unlocking, with US pay TV subscriptions now down by over a third
Benedict Evans • TV, merchant media and the unbundling of advertising — Benedict Evans
Of course there’s general subscription fatigue and the fact that “Netflix now exists in the hyper-competitive world it created,” as Variety’s Owen Gleiberman wrote. There’s inflation and the trend of people pulling back on their subscriptions, leading some to call it, The Great Unsubscribe.
Long Dash • Do you know your fans?
We had to switch from a business model where we made a lot of money per reader, with a relatively small number of readers, to a tiny bit of money per reader on a very large number of readers. That’s the transition we made.