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Posts Tagged ‘place-based media’

What does the aggregate US and global economic crisis really mean for digital and new-media initiatives by marketers?  The Wednesday, October 15, edition of The Wall Street Journal carried an hysteria-driven article by reporter Emily Steel, who commented, “Financial woes likely will derail the growth of a slew of advertising technologies that until recently were being hailed as the next big thing.” 

Is this really true?

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I’ve recently been working with a venture team that is focused on an interesting and rapidly-growing new communication medium.  It is known by many names.  I prefer to refer to it as ‘place-based media,’ because it is more appropriate to the overall goal of the medium – i.e., ‘right time, right place’ – but digital ‘out-of-home’ OOH advertising has strong traction as a term, as well.

Place-based media is an interesting medium that is garnering a lot of current attention.  In the past year, for example, NBC launched its NBC Everywhere division to chase the opportunity with the division’s general manager, Mark French, commenting that “[m]edia has become very fragmented.  People are consuming media in a variety of different settings.”  NBC’s goal is to be wherever people are ‘consuming’ media.   CBS, meanwhile, acquired SignStorey, which had built a network of place-based screens in more than 1,400 grocery stores across the United States, for $71.5 million in cash, and has subsequently rolled it into CBS Outernet.

Why is there so much interest in this space?  And why should you, as a marketer, care?

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