Advertisers who have used television as the foundation of their strategy face dangerous days, according to a study by GroupM.
The Media Landscape study, by Brian Wieser and Rob Norman, looks at the industry via the expenditure of large advertisers.
"These are dangerous days for advertisers — at least those who have used television as the foundation of their communication strategy," says the report.
"With shifts in viewing habits, commercial impressions in the most viewable, highest attention media are in free fall across the world.
"The problem is universal and if the viewing behaviour of younger audiences is a harbinger, things are not going to get better.
"The simple truth is that Google and Facebook on the one hand and Netflix on the other have structurally undermined a century-old economic model: the former two companies by advertising-led monetising of intent and social interaction in the absence of content, and the latter one by monetisation of content in the absence of advertising."
The report says the massive outflows of cash combined with a diversion of attention from print media eviscerated the legacy publishing model.
And the creation of an appetite for ad-free video diverted time, attention and money from traditional television.
The research shows that Google and Facebook represent 19% of GroupM's total billings. This includes all of Facebook’s individual platforms and the Facebook Audience Network, as well as all Google search, display and video.
Google is the largest supplier to GroupM clients, followed by The Walt Disney Company, Comcast and Facebook.
GroupM's investment with Amazon, Twitter and Snap was a total of $500 million, less than 15% of the Google/Facebook total.
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