As cultural shifts go, this was a blitzkrieg. We can all say we're shocked, amazed, saddened but this happened quicker than I had ever imagined. It's been no secret that media was shifting as print has become a dying art, but the economy has made this an occurrence of speed multiplied by 10. Tribune media has filed for bankruptcy protection that also includes their print and broadcast media outlets as well as other second tier magazines and niche hard copy products. For the love of all things Mark Cuban at least the Cubs were not included in this. This bankruptcy and it's affects are punctuated locally by the massive layoffs the Indianapolis Star announced in October .
Last month I linked a video by marketing king Gary Vanyerchuck where Gary expounds on where marketing dollars are being spent and more importantly where they are not. Gary, as usual, was dead on in his theory but gave print a bit more of a lifeline than the reality of world economics. The only question now is where and when will the other shoe drop.
I've been astounded lately by listening to both my local radio stations and networks like ESPN radio to hear with some consistency what amounts to public service announcements touting the benefits of radio advertising.
ARE YOU KIDDING ME?
Running self serving marketing ads in the middle of the holiday season that is the broadcasting equivalent of black Friday? Absurd....and revealing. Radio is hurting badly. Television is no different. Soon you will see cut backs at the local level affecting everything from how you get your 11:00 news on T.V. to potentially what people (or lack there of) that deliver the live, local and late breaking news, weather and traffic coming out of your car radio on the way to work. Some of you won't notice because you're already on to an Ipod or Satellite radio. Hence the problem. I've been saying for years that all media is getting to be THIS < > WIDE. With the Tribune bankruptcy filing, it just got narrower.
What does this mean for Today's New World Of Real Estate? Marketing, access and transfer of properties are going to look A LOT different in the months and years to come. Open your mind Mr. and Mrs. consumer. Change has come to the real estate industry and the learning curve will be steep for you and those Brokers who represent you.
QUESTIONS? COMMENTS? DONATIONS? Greg@GregCooper.com or 317.848.GREG (4734)