Sir Martin on the ad recession
July 12 2009, 10:57 am | | 1 Comment
Interesting CNBC interview with Sir Martin Sorrell on the ad recession from the Allen & Co conference in Sun Valley. Based on Sorrell’s month-to-month analysis there’s no sign of a bottom just yet, though it looks like the market could turn around in the beginning of 2010.
The economy is obviously hitting advertising hard, and from Sorrell’s perspective the US stimulus plan isn’t doing enough to turn the global economic downturn around. And the cyclical challenges are exacerbating the structural issues the ad industry faces: a shift away from traditional formats like newspaper and broadcast television to less expensive ads online.
1 Comment
Whats the big fuss about the shift from traditional media to the online space?
Do we need a whole new breed of creatives to deliver salvation online an dump the existing ones? No.
All you need is people who can continue to have big, bold, integrative ideas.
Ideas are the only currency, wherever you advertise.
Also, now more than ever asia needs to tighten up on the scam front. No point winning a bunch of metal when you’re losing pitches left right and centre. Thats what Sir Martin needs to impress upon his agencies.