"What unites the years, is that the five big networks were still talking about the fragmentation of the media ecosystem. They were dealing with more channels than ever before and yet, it was way less than they now do. With declining budgets stretched over an ever-expanding range of channels, many advertisers struggled to achieve the desired cut through or generate a return on their media investments."
"These five groups accounted for around 85% of the global media market, they were bigger than the brands they were buying for and could negotiate discounts. For many brands, media was the biggest expenditure and therefore first on the chopping block. The report says: 'Corporate leadership teams, encouraged by finance departments, created a new language around media budgets. These became 'costs' that needed to be managed (down)"
The 2009 global financial crisis triggered extensive media cost-cutting and a decade-long trend toward commoditized, lowest-price media buying. Five large network groups controlled roughly 85% of the global media market and leveraged scale to secure discounts, which pressured brands to treat media as a cost to be cut first. Media fragmentation has expanded far beyond 2009 levels, increasing the number of channels and complicating efforts to achieve cut-through. With stretched budgets across more channels, many advertisers struggled to generate returns on media investments. Marketers are increasingly unlearning price-only approaches and emphasizing budget protection and strategic value.
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