"It does keep me up at night," Drinkwater said, adding that Facebook and Google "need our content to keep audiences spending time on their platforms. And the ROI [return on investment] that we get as a media content provider is not quite adequate."
Drinkwater said the challenge to all other media companies when competing for digital ad dollars is the advertising platforms built by Google and Facebook work really well. The Facebook Ads and Google Adwords platforms are self-service, relatively easy to use and allow an advertiser to track their return on investment.
"They both built really great mousetraps," Drinkwater said. "If I were a small or medium business owner, I would absolutely put a bunch of my budget into those platforms."
The event was part of the BizHack Presents
speaker series and was moderated by Dan Grech, a former journalist at The Miami Herald
, NPR's Marketplace and PBS's Nightly Business Report.