By John Eggerton -- Broadcasting & Cable, 2/6/2007 6:29:00 AM MT
After newspapers and magazines, network television was the medium most in need of innovation "if [it is] to remain competitive."
That was one of the conclusions of an American Advertising Federation ad executive study released Tuesday.
One of the ways they need to be shaking things up is with new delivery systems, the study suggested, since three quarters of the execs say they are now reserving between 1% and 20% of their ad budgets for "experimentation and new media properties," with a little over 12% saying that figure was 21%-40%.
The execs said the innovations they had expected in 2006 included TV on the 'net, text messaging, and social media as an advertising opportunity. Innovations that took them by surprise included the meteoric rise of YouTube and multi-sourced mash-ups of content.
The survey was of one thousand ad execs, a third of which say they participate in the final media buying decisions for their companies.
Fox Business Network begins broadcasting from its new high-tech Studio G, overlooking Manhattan from the 3rd floor of News Corp. headquarters, on April 20. B&C got an early peek at the new space.
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