Last month, we wrote about Rupert Murdoch purchasing MySpace.com – an incredibly successful site that now has more page views than Google. It’s essentially a social network site where teens and college students meet each other, make friends, and hang out on the Internet.
Why is this a big story? First, Murdoch paid $580 million dollars for MySpace.com. Second, he doesn’t tend to waste his money on stupid ventures. And third, he usually is thinking down the road.
In this case, the boss of Fox realizes that there’s a lot of money in youth marketing, as evidenced by his success with the Fox Network. And he also realizes that reaching them via conventional, traditional media has become more difficult.
Gen Y is an audience that is coveted by marketers – unless, of course, they work in radio. Murdoch isn’t a crackpot who’s taking a shot in the dark at a niche audience. He realizes that the path to long-term riches is to invest in youth – NOW. Murdoch is a marketing genius who knows where the treasure is buried. And now, he’s bought a great Internet map.
When will the radio business wake up and invest in youth?
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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