Modern advertising was created in the US between 1870 and 1920 when advertisers and the increasingly specialized advertising industry that served them crafted means of reliable access to and knowledge of audiences.
This highly original and accessible book re-centers the story of the invention of modern advertising on the question of how access to audiences was streamlined and standardized. Drawing from late-nineteenth and early-twentieth-century materials, especially from the advertising industrys professional journals and the business press, chapters on the development of print media, billboard, and direct mail advertising illustrate the struggles amongst advertisers, intermediaries, audience-sellers, and often-resistant audiences themselves. Over time, the maturing advertising industry transformed the haphazard business of getting advertisements before the eyes of the public into a market in which audience attention could be traded as a commodity.
This book applies economic theory with historical narrative to explain market participants ongoing quests to expand the reach of the market and to increase the efficiency of attention harvesting operations. It will be of interest to scholars of contemporary American advertising, the history of advertising more generally, and also of economic history and theory.
Modern advertising was created in the US between 1870 and 1920 when advertisers and the increasingly specialized advertising industry that served them crafted means of reliable access to and knowledge of audiences.
Preface Acknowledgements
Chapter 1 Introduction: Audience Attention as
Commodity, Commodification as Historical Process - Audience Attention as
Commodity - Commodification as Historical Process - Audience Attention as a
Fictitious Commodity - Sectors of the Audience Attention Market - Mass media
- Outdoor advertising - Direct mail - The Dramatis Personae - Who We the
Advertisers? Why Did Their Sales Practices Change? - Who Were the Advertising
Professionals? What Were Their Business Practices? - Who Were the Consumers?
- The Drama - Conflicting and Complementary Interests - Engaging the State -
Growth - Conclusion
Chapter 2 Packaging Readers: Newspaper and Magazine
Advertising - Introduction - Newspaper Readers as an Incompletely Tapped
Resource - Magazines, Mass Culture, and the Expanded Production of Audiences
- Pricing Audiences and Dividing the Spoils - Increasing Efficiency and
Intensifying Resource Use - Extensive Mining of Attention - Intensive Mining
of Attention - Advertising Professionals Advocate Changed Business Practices
for Advertisers and Publishers - Conclusion
Chapter 3 Pricing the Eyes of
Passersby: Outdoor Advertising - Introduction - The Outdoor Advertising
Supply Chain - Monopoly - Efficiency Gains: Lowering the Cost Per Gaze -
Audience Compulsion - Material Inputs - Sequential Rents in Outdoor
Advertising - Urbanization and the Governance of Public Space - Conclusion
Chapter 4 Home Invasion: Advertising Delivered Door-to-Door - Introduction
- Mining Data to Compile the Mailing List - Social Barriers to Data
Collection - The Mailing List as Asset and as Commodity - Mailing List
Operating Costs - Creative Content - Paper - Printing - Addressing and
Mailing - Technologies and Labor Processes in the Information Economy -
Encoding Information - Office Workers - Mechanized Information Processing -
Audience Control - Approaching the Supply Chain as Supplicant or
Disciplinarian - Disciplining the Profession - Conclusion
Chapter 5
Conclusion: Multimedia Demands on the Resource of Attention - Advertising of
All Sorts - Billboards vs. Newspapers - Decade of conflict: the 1890s -
Détente: after 1900 - Direct Mail Enters the Fray - New Media Since 1920 -
Contested Property Rights in Attention - Attention Ownership Claims of the
Interceptors - Attention as a Common Resource - Living in the Attention
Commons
Zoe Sherman is Assistant Professor of Economics at Merrimack College. Her scholarly writing has appeared in Rethinking Marxism, Forum for Social Economics, and other peer reviewed publications. Her popular writing appears regularly in Dollars & Sense magazine.
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