The wasted half

"Half the money I spend on advertising is wasted; the trouble is I don't know which half."

This quip from department store pioneer John Wanamaker (1838-1922) has come to mind a lot lately. I'm wondering if the increasing sophistication of online metrics is providing the insight Wanamaker wished for, and, if so, is the 'wasted half' of advertiser expense/ad seller revenue being wrung from various business models? More specifically, I'm curious about the implications for the news industry. More to come...

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