The most lucrative opportunities in media are now on the smallest screen: the phone. As consumer attention shifts from movie theaters and traditional TV to mobile-first social platforms, the return on investment for content creators and distributors has flipped, favoring short-form, mobile-native content over big-screen productions.

Leaders often choose expensive, traditional advertising for ego gratification, like a TV spot during a baseball game, over more effective and profitable digital platforms. This preference for the familiar methods of 'yesterday' stifles growth and wastes money in favor of personal validation.

The price disparity isn't about viewership. Legacy TV ad buys are often part of complex, negotiated packages that include talent access and integrations. This "engagement model" is different from YouTube's biddable, auction-based system, keeping TV prices high despite weaker analytics.

Gary Vaynerchuk argues that large companies cling to outdated marketing playbooks, measuring success by "potential reach" (e.g., billboard impressions). This metric is flawed because it ignores whether anyone actually paid attention. Startups win by focusing on "actualized reach" on platforms where attention is guaranteed.

Frame marketing strategy not as managing channels, but as "day-trading attention." Identify platforms where user attention is high but advertising costs are low due to a lack of saturation from major brands. This arbitrage opportunity allows smaller players to achieve outsized results before the market corrects.

Despite TikTok's reach, Facebook's ad platform remains superior for many DTC brands. Its ad product is more refined, its older demographic has higher buying propensity, and its historical efficiency means that even mediocre ad creative can be profitable, unlike newer platforms.

Peter Field's analysis, applying attention data to media costs, reveals TV's high value. With an average 14-second attention span versus 1.7 for in-feed ads, TV's attention-adjusted CPM is extremely low. It also captures over 50% of Gen Z's media consumption, busting the "TV is dead" myth.

The next major shift in ad tech is performance-based CTV. This merges the attention of linear TV with the accountability of digital media, allowing advertisers to tie ad spend directly to outcomes like sales—a revolutionary change from traditional television's limitations.

Many marketing departments favor billboards and TV ads, relying on 'fake reports' with inflated impressions. Meanwhile, social media, where brand and sales are actually built, remains underpriced and undervalued.