The world's biggest trend hunter, Oprah Winfrey, has acknowledged that traditional media is endangered... unless it makes the switch to the web.
When Oprah does anything, the rest of the world follows. She has given YouTube the biggest endorsement that money can't buy. By taking her company, Harpo Productions, online with the Oprah Channel on YouTube, another nail has been put in the coffin of traditional media.
"For marketers, this may be the final impetus to move ad dollars away from traditional broadcast to online video formats," according to ThoughtGadgets.com.
"Some analysts have remained skeptical, pointing out that about three-quarters of political advertising in 2008, or $2.5 billion, will be spent on old-school TV. But consider the facts: DVR sales are rising to nearly 20% market penetration, and as Broadcasting & Cable reports, most major primetime shows are now posted online for free. The cable networks are scared silly about where all these consumer eyeballs are headed."
Oprah isn't just a trend hunter, she's also a trend setter. Don't be surprised to see celebrity YouTube channels sprout like marijuana grow-ops in Canada. The real question is, which will be more profitable? Marijuana in Canada, or Oprah on the web? I'll bet on Winfrey!
YouTube's Biggest Endorsement Money Can't Buy
Oprah Channel
Trend Themes
1. Switch to Online Video Formats - The endorsement of online video formats by Oprah Winfrey presents a disruptive innovation opportunity for marketers to move ad dollars away from traditional broadcast.
2. Rise of Celebrity Youtube Channels - The emergence of celebrity YouTube channels, inspired by Oprah Winfrey, creates a disruptive innovation opportunity to explore new profitable avenues in online content creation.
3. Decline of Traditional Media - The acknowledgment from Oprah Winfrey about the endangered state of traditional media suggests a disruptive innovation opportunity to explore alternative platforms and business models.
Industry Implications
1. Advertising - The shift of ad dollars from traditional broadcast to online video formats, endorsed by Oprah Winfrey, presents a disruptive innovation opportunity for the advertising industry.
2. Entertainment - The rise of celebrity YouTube channels, influenced by Oprah Winfrey, presents a disruptive innovation opportunity for the entertainment industry to capitalize on the popularity and reach of online platforms.
3. Media - The decline of traditional media highlighted by Oprah Winfrey presents a disruptive innovation opportunity for the media industry to explore new platforms and adapt to changing consumer preferences.