Sizing Up Big Media’s Big Advertising Problem

[Commentary] While digital platforms are indeed getting a bigger piece of the advertising pie, they don’t appear to be eating too much into TV’s slice. For media companies, a cyclical rather than secular shift may be playing a more dominant role at the moment. Some spending may have been shifted forward and the slowdown in 2014 may represent a resetting. Media owners and investors likely didn’t see that coming and had projected 2014 would bring faster growth than 2013.