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Is the Advertising Industry in Chaos?

In the April 4, 2005 print issue of Advertising Age Bob Garfield introduces his “Chaos Theory”: (reg. req.d) for the advertising industry. This theory is based on the effects of the digital media revolution and what it is doing to advertising as we have known it. In the article Garfield opines on how the traditional advertising world is pretty much ignoring the big changes in marketing. He also makes it clear that the new digital technologies are not yet able to take over from the the declining media channels like television. Garfield’s argument is that there is a disconnect between the old and the new and the lack of a clear bridge from one to the other will greatly, and negatively, affect the marketing business, the overall economy and, possibly, American society. Do you agree?

Those that believe Garfield and Microsoft CEO Steve Ballmer’s prediction that 100% of ad dollars will be spent online by 2010 (see “The Death of Offline Advertising – And The Birth of New Marketing”: applaud this article. Naysayers believe this is just sensationalism and commensurate with Al and Laura “Ries”: saying “advertising is dead” on their book “The Fall of Advertising – The Rise of PR”:
What do you think? Is the advertising industry in the midst of the “Chaos Scenario” as Advertising Age’s Garfield outlines? Is advertising really dead? Will 100% of ad dollars be spent online by 2010?

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