MEDIA INVESTMENTS IN THE DIGITAL ERA
The mid-20th century (the Mad Men era) was a golden age for advertising, thanks to the proliferation of mass media. Fathers would turn on the radio and hear an ad for the latest car. Mothers would open a magazine and see a full-page ad for state-of-the-art household appliances. The ads might not have been backed with data analytics, but companies knew they were reaching their audiences one way or another. “Half the money I spend on advertising is wasted; the trouble is I don’t know which half,”
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