In our recent insights interview, we sat down with James Petretti, Senior Vice President, U.S. Research and Analytics to discuss how to reach the new age media consumer.
Here’s what Petretti had to say:
What is the state of the media research industry in 2017?
Petretti: Media Research is more complicated than ever before – more platforms, more channels, more kinds of content and more measures than ever before – the different types of data sets, and sheer amount of it that we are required to work with today means we need to bring in new skill sets and core competencies – so it’s a constant learning process on top of trying to stay on top of an ever-increasing amount of information… it’s exhilarating and exhausting at the same time.
What have been the biggest changes in the industry since you started your career?
Petretti: We’ve moved from an analog to digital world – that’s changed everything.
Have the influx of social media and mobile made your job easier or harder?
Petretti: Both – there’s more data to have to consider – but it’s often a rich data set that allows us to have immediate feedback
How has the media consumer changed in the past few years?
Petretti: The Consumer is King today… they’re in control
How can media companies do a better job reaching the new age consumer?
Petretti: We need to make sure we respect the consumer today – when Media was a one to many medium, media companies were driving the relationship – but that’s changed and we must respond in kind – we can’t just look at consumers as “audience targets” – we must understand them as individuals and consider how we can help satisfy their needs and expectations.
What is the biggest challenge in the media industry today?
Petretti: The Business Model has not yet evolved to meet today’s realities – the ad supported television model is based on a captive audience trapped in linear time – but today viewers are liberated with extraordinary options that empower individual control and increasingly asynchronous viewing.
Where do you see media research moving in 5 years?
Petretti: Analytics, Data Science and Data Visualization continue to become increasingly important disciplines for media researchers – we need to incorporate core competencies from each to meet the demands of the new media world today and beyond.