Obviously we know Social Media is growing by leaps and bounds, but when you look at the raw data it makes you ask yourself just how big is it becoming. In this video Magid Abraham, co-founder and CEO of ComScores, talks about how Social Media sites like Facebook and MySpace are squeezing out traditional media in terms of audience and advertising.
In the US, MySpace and Facebook account for more than 20 percent in terms of advertising impressions. Mr. Abraham said, “The Long Tail of the Internet is largely being aggregated by social media sites that offer a platform for the huge number of small content generators.” This is putting huge pressure on traditional media in terms of advertising because their shares of both time and page views are declining rapidly.
The question should not be how can traditional media venues try to beat social media; rather, the question should be how can traditional media utilize and benefit from the attractive platforms offered by social media.
What does this mean to you as a small business owner…
Quite frankly…nothing, unless you are a “Big Picture” thinker.
Every so often there is a new paradigm shift that occurs in consumer behavior and perception… Are we seeing one now?
I say… Absolutely!
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Hi Kory,
Found you on the Carbon Copy Forum. Great post. I’ve seen for a long time now that social media is over taking the traditional ways we used to get our information. I believe televison is on it’s way out, and we will eventually be a completely internet connected society. This is the beginning of a wave too large to ignore for any business owner, and it’s great that you are bringing attention to this issue.