Perspective.... 2009 won't be missed, but 2010 promises to be just as exhausting

And talking to figures across the media industry, one message has come through loud and clear: “Thank goodness that’s over.”

Across the media business - agencies and media owners, old media and new - it has been a year in which business models have been ripped up and sacred cows slaughtered. It has been by turns exhilarating and exhausting.

The pace of change this year has been truly breathtaking. Who 12 months ago would have predicted that Rupert Murdoch would lead a revolt against free content on the internet and actually stand a chance of pulling it off? And then there’s Twitter. What started 2009 as (in Asia certainly) the preserve of early adopters soon became the talk of the digital world.

Suddenly brands were told they needed a Twitter strategy - and PR agencies jostled with digital agencies to be the ones to give it to them. Yet there are already signs the site has plateaued (comScore data shows US usage levelling off from July). If that’s the case, it brings to mind the old claim that you can’t trust social media to stick around long enough to make them worth investing time and effort in.

The rebuttal to that is Facebook. The site just keeps growing, and, astonishingly, has dethroned Friendster in much of Southeast Asia in a matter of months. Despite its failure to crack China (home to its own overnight online success stories), it is here to stay. Marketers who aren’t looking at it already should start now; and media owners should begin to harness its power to distribute their content.

That said, when it comes to business models, social media has probably seen less innovation this year than any other part of the media economy. Facebook’s focus is still volume. Twitter’s monetisation strategy is the subject of feverish speculation, but so far little action. It would be nice to see progress in this field next year - Friendster may have signalled the sector’s next step by selling out to a micropayments provider.

What else can we expect next year? The process of reinvention is a long way from complete. Media agencies are still figuring out how to avoid the endless rounds of margin-squeezing. TV operators are still tentatively working out what to do with online video. The publishers who are still in business are contemplating alternatives to their rapidly reducing ad income. But knowing what to do and finding the resources and talent to do it are very different matters. 2010, then, looks like it’s going to be just as hectic.

Finally, on a personal note, 2010 will definitely be a year of change. This is the last issue of Media under my stewardship. After a fascinating two years covering Asia’s media and marketing scene, I am returning to London. My sincere thanks go to all the people who have made this role so enjoyable and so thought-provoking - you know who you are.

Got a view?
Emal [email protected]


This article was originally published in 17 December 2009 issue of Media.