Even as the digital revolution creates an explosion in the number of opportunities to expose consumers to advertising, one of the ad industry’s top futurists is predicting that the ability of advertising to reach consumers will decline by 20% to 30%, or more, over the next five years.
MediaPost reports that Publicis Groupe’s Rishad Tobaccowala made the prediction Thursday during the opening session of CIMM’s Cross-Platform Media Measurement & Data Summit in New York City. The report quotes Tobaccowala saying: “We will increasingly have less and less advertising.”
“That’s an ironic prediction for an ad executive whose title is chief growth officer,” MediaPost notes.
Tobaccowala’s reasoning may surprise some industry observers. While he cites a number of factors, his main one is that advertising is simply not a good experience for most people, MediaPost reports.
Noting the rapid adoption of ad-free content platforms such as Netflix, Tobaccowala is quoted saying: “We are so disrespecting people’s time that they are spending more and more time in advertising-free environments.” He added that the value the advertising industry places on consumers’ time is “less than minimum wage.”
“As a result, Tobaccowala said he doesn’t believe Netflix will adopt an ‘advertising model,’ because it is antithetical to the reason consumers are adopting it in the first place,” the report adds.