Tue 22 Nov 2005
Edelman Looks Ahead
Posted by Mike Bawden under Uncategorized
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Richard Edelman, CEO of Edelman Public Relations, provides a panarmaic view of the future of media and, more importantly, the future of public relations.
Here are some of the major changes (or, as Richard calls them, “fundamental shifts”) occuring in the media world:
- Money is ebbing away from print media to online competitors.
- The 50 largest web companies are attracting 96% of the online ad spend.
- The number of in-home DVR’s is expected to tripple in the next five years.
- 24 million homes in the USA now have V.O.D. (Video On Demand).
- Publishing companies are moving from free content to a subscription model whenever and wherever possible.
- US newspapers are continuing to lose circulation resulting in staff and newsroom cuts.
The implications are pretty significant for the public relations profession, as you can imagine. To summarize the advice that Richard offers here (and others involved in social media throughout the blogosphere are offering on their various sites) amounts to a fundamental shift in how PR is practiced.
To summarize: we have to move from “telling” our story to “sharing” it.
We may look back on the next few years as the beginning of a new method of story-telling that is much more dynamic, much more interactive and much harder to control than ever before.
Take the time required to read Richard’s post and start making plans for the years ahead. To quote Bette Davis: “Fasten your seatbelts – it’s going to be a bumpy ride.”
Technorati Tags: Marketing, Public Relations, PR, Media, Journalism, Newspapers, Online Media, Edelman Public Relations, Richard Edelman








