The Internet advertising industry, whose chief unit of currency is best represented by the banner, is facing a major disruption. In the book, The Innovator's Dilemma , the author, Clayton Christenson outlines how new ideas and technologies can disrupt entrenched ways of thinking. The information flow is reversed as the battle for the hearts and minds of the online community is waged inside their email boxes. The media, in this case are those daily and weekly e-zines or newsletters that people subscribe to in areas catering to their particular interests.
Content ranges from weekly recipes and gardening tips to daily jokes and inspirational quotes.
Within the content are usually text ads. Most subscriptions are free, subsidized by ads contained in between articles or sections. An industry has developed that owes its existence to what I believe to be a failed medium. Individuals and institutions have defined themselves in ways that may be appealing to Wall Street, but advertisers are ready to shake up their security. If you are a leader in your market, you are constantly looking over your shoulder to see who is creeping up on you.