Jul 31 2008
The people previously known as the advertisers
When it comes to online video innovation, “big media is the tail of the dog,” says Rich Moran, a partner with Venrock, the venture investing fund of the Rockefeller family.
As newspaper and TV websites flail in the morass of “citizen journalism” they have created for themselves, advertisers (the folks who pay the bills) are forced to take things into their own hands:
“For more than decades, media companies have been the channels for advertisers to reach audiences,” he said. “Suddenly companies don’t rely completely on them.”The 1,088 US-based companies surveyed will spend $61.5 billion, or 61.8% of their online advertising and marketing budgets, on their own sites LA Times
