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Computer scientist and author Jaron Lanier has turned his back on the “information wants to free” meme to which he once subscribed, and he thinks advertising as a business model for media is doomed. It’s not just that Craigslist and other Internet businesses have snatched ads away from traditional media, he reckons; it’s that in this digital era, when Google and Facebook increasingly own most of the inventory, not to mention the ad servers and distribution channels, relying on advertising to prop up your media company just doesn’t make sense.
youLanier, the guy credited with coming up with the term “virtual reality,” outlines this thesis in his new book “Who Owns the Future?” which examines the effects network technologies have had on our economy. In an interview with Nieman Journalism Lab, Lanier builds on that case, stating flatly that advertising isn’t a viable business plan for media businesses in the long term. He tells the publication...
Tthis is a very provocative discussion about how advertising is dead. Simply dead in the water. And Lanier is most definitely right. Recommended reading for advertising, marketing and PR people.