Martin Sorrell: Why Magazines Must Continue to Fold

NEW YORK (YouTube.com/AdAge) -- WPP Group CEO Martin Sorrell not only thinks the contraction of the newspaper and magazine industry will continue, but that it NEEDS to continue. In keynote remarks that opened this week's Ad-Tech in New York, Sorrell cited the over-capacity of supply and inventory as a major problem holding back the re-stabilization of the media business.

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[demorra]

Sir Martin Sorrell is ignoring the fact that marketing messages need to be contained within a vessel that will carry them to the audience that will buy the product. For instance, if I want to sell digital SLR cameras to photographers, I must communicate the benefits to the photographers. Whether it be an online publication or a print publication, I need a medium which contains both content and advertising that promotes my product. Without such a medium, my marketing costs soar out of sight.