Google, Facebook Leave Rivals Struggling for Digital ‘Nirvana’
- Search engine and social network dominate advertising spend
- Methuselah Advisors’ John Chachas speaks on Bloomberg TV
This article is for subscribers only.
As digital media giants Facebook Inc. and Alphabet Inc.’s Google dominate online advertising dollars, traditional media companies may need to look elsewhere for growth, according to a top media investment banker.
“If they’re getting all the growth, if no one else is growing, maybe we’ve sort of hit a new plateau where media has changed,” John Chachas, managing partner at Methuselah Advisors in New York, said of a few large digital media players during an interview with Bloomberg TV Monday. Digital media “may not be the nirvana that everybody thought,” he said.