A couple of days ago I came across an article in the Columbia Journalism Review by Bernie Sanders, the U.S. Senator and candidate for President of the United States, who had written a very praising article about the role of the press and how the tech companies need to be challenged and potentially taxed to "fund nonprofit civic-minded media".
We need to have a talk about this, because there are several really big problems here.
I know that there are a lot of people who support this narrative, and who agree with Sanders that the tech companies have somehow used their monopolistic powers to take away advertising that was not rightly theirs (which is not true, but many believe that it is).
As a media analyst I can sympathize with this notion, but this is not the way to tackle it, mostly because it is based on a completely distorted idea that has no basis in reality.
Let's start with the notion that advertising exists to support journalism.
I happen to know a lot about advertising from a brand perspective. The reason is that I started my career in the fashion industry.
I went to a fashion design school to become a fashion designer, but I eventually felt more excited about the media, so for 10 years, I worked as a digital media manager for the 2nd largest fashion company in my country.
In this role, I was responsible for every aspect of our digital media and marketing strategy. Every year, I was allocated a budget, and it was then my job to figure out how to spend that in such a way that it provided us with the best result.
This Baekdal/Executive article can only accessed bysubscribing to Baekdal/Executive (which also gives you full access to our full archieve of executive reports)
Baekdal is a magazine for media professionals, focusing on media analysis, trends, patterns, strategy, journalistic focus, and newsroom optimization. Since 2010, it has helped publishers in more than 40 countries, including big and small publishers like Condé Nast, Bonnier, Schibsted, NRC, and others, as well as companies like Google and Microsoft.
Baekdal comes in three tiers:
Free weekly newsletters for media professionals, focusing on news, trends, and quick insights.
Weekly media insights and analysis for journalists, editors, and business managers, helping you focus and optimize your newsroom and audience engagement.
In-depth media reports for editors-in-chief, executives, and other decision makers, helping you understand the future of media, trends, patterns, monetization, data, and strategies.
Founder, media analyst, author, and publisher. Follow on Twitter
"Thomas Baekdal is one of Scandinavia's most sought-after experts in the digitization of media companies. He has made himself known for his analysis of how digitization has changed the way we consume media."
Swedish business magazine, Resumé