With the rapid growth of the Internet and its audience advertisers now have a new medium at their disposal. The placement of the first banner ads in 1994 marks the birth of Internet advertising. Although the advertising industry at first hesitated to adopt the new medium, two facts brushed away their doubts:
Migrating Television Audiences: The increased use of the Internet led people to redistribute their time budget. Whereas some cut down on eating and sleeping, more than a third reduced watching television and instead uses the WWW.
Interesting Internet Demographics: While methodologies and approaches of research organizations studying the demographic composition of the Internet vary, the findings are relatively consistent: Internet users are young, well educated and earn high incomes.
Considering those findings, the Internet in the first place seems to become inevitable to be included in media planning, as part of the audience shifts from TV to the WWW, and secondly, because demographics of the Internet user population are irresistible for marketers.
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The advertising industry has always relied on media to transport their messages and disseminate them to the public. Depending on the product or service advertised and the audience targeted different media are used. Besides cinema and outdoor advertising (posters etc.) the huge majority of ads is placed within the classical media landscape, which includes TV, newspapers, magazines and radio.
Whereas in most cases only a relatively small fraction of advertising budgets is spent on cinema, outdoor and radio advertising, newspapers, magazines and TV account for more than two thirds of the money spent on ads. Still with the growing popularity of new media advertisers and marketers have recently also discovered digital networks and especially the Internet for their purposes.
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Among the most striking development of the 1990s has been the emergence of a global commercial media market utilizing new technologies and the global trend toward deregulation.
This global commercial media market is a result of aggressive maneuvering by the dominant firms, new technologies that make global systems cost-efficient, and neoliberal economic policies encouraged by the World Bank, IMF, WTO, and the US government to break down regulatory barriers to a global commercial media and telecommunication market.
A global oligopolistic market that covers the spectrum of media is now crystallizing the very high barriers to entry."
(Robert McChesney, author of "Rich Media, Poor Democracy")
The network structure of information and communication technologies means that even deregulated markets are not "free". The functional logic of global networks only tolerates a small number of large players. Mergers, strategic alliances, partnerships and cooperations are therefore the daily routine of the ICT business. They bypass competition and create "virtual cartels".
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Being itself under the umbrella of the
Being the worldwide leader in networking for the Internet, Cisco Systems is one of the most prominent companies of the Internet industry.
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