They are wrong, however, about what is causing the problems.
The crisis is not being caused by the internet. The internet should be a boon to advertising.
The crisis is not being caused by "new media." New media should be stimulating a creative resurgence.
The crisis is not the result of consumers becoming immune to advertising. The idea that consumers are suddenly immune to advertising is just plain nonsense.
Unfortunately, the causes of the crisis are much deeper and intractable. They revolve around three factors.
1. Consolidation of the ad industryIn the next few days I'm going to explore these three factors and how they have influenced every one of us who works in advertising and marketing.
2. Talent and brain drain
3. Mindless me-too-ism
The Crisis Of Advertising, Part 1
The Crisis Of Advertising, Part 2: Consolidation
The Crisis Of Advertising, Part 3: Talent
The Crisis Of Advertising, Part 4: Brain Drain
The Crisis Of Advertising, Part 5: What To Do