As published in MediaVillage.com:
Jack Myers, media ecologist and founder of MediaVillage and AdvancingDiversity.org has been a witness to media technology advances since the introduction of FM radio and built his career forecasting how technology would impact on brand marketing and ad spending decisions. CRO of Matrix Solutions, Brenda Hetrick hosted a Candid Conversation with Myers in what was billed as "WTF Just Happened (And What's Ahead)" that proved to be more candid than Hetrick may have anticipated..
Hetrick asked Myers about a recent Jack Myers ThinkTank podcast titled Battle for the Soul of Media, in which he fiercely and passionately critiqued the impact that some of the larger social media players are having on the "soul" of the media industry. "Companies like Facebook have positioned themselves as media companies and are competing for media budgets when, in fact, they are really not a part of the media industry. They are a part of a very different commerce-based industry.
"The vast majority of their revenues are from small and medium-sized businesses. They have created a turnkey and seamless model for integration and have imported that into the agencies and in-house agencies at national marketers to enable an efficient model for procurement-centric brands to shift money away from the more traditional media.