I hear Google is planning to open a large space in New York’s hot Chelsea area and the huge deal with Rupert Murdoch’s New Corp. to provide search services and ads for MySpace shows why. In the blink of a moment, the entire media and advertising market is being flipped and transformed. Search combines with social networking to create—what? Let’s see.
To me the term “innovation” barely describes the vast changes underway, driven in large part by Google. Google is using is innovation in search to do business model innovation—which provides much greater leverage in generating paradigm changing impact.
Google’s strategy appears to be to expand into all major sources of online advertising. The deal with MySpace follows deals with Viacom’s MTV network and taking a 5% stake in Time Warner’s AOL.
The deal with MySpace really solidifies Google’s lock on online advertising.
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