it was not digital marketing, it was "measurement theatre"
#marketers were addicted to large quantities of ads to buy, low CPM prices (even though they spent more dollars), and the appearance of performance and engagement
I drew this chart in 2015, showing 2/3 of digital ad dollars being siphoned out of the ecosystem into the pockets of bad guys (with the help of adtech intermediaries)
there's not enough humans on earth and hours in a day for them to consume so much media to generate the quantities of impressions (by one estimate 15 trillion bid requests per week)
2/3 of the impressions are "something else" (not humans)
bad guys are so optimized now, they dont even need to load webpages or even the ads themselves (to save time and bandwidth)
if ads paid the bills, publishers are incentivized to generate more pageviews/imps to get more revenue - divisive and fake content always generate more pageviews
it's really hard to "hold the line" on quality journalism when it means less revs
at this point, nobody wants to be responsible for "the good of society"
because everyone is too busy making more money for themselves -- i.e. capitalism
quality journalism doesn't pay right now, because no one values it -- neither advertiser, nor consumer
advertisers want cheap ads to buy, so they don't buy much from real publishers
consumers get their news through FB and Google News, read just the headline and never click to the full article
young consumers watch funny tiktok videos 6in from their faces 22 hrs a day