Rethinking 2010

So, here we are in the middle of summer in our nation’s worse recession since the “Big One,” and there’s talk of the economy turning around, as well as talks of a double dip recession.  Regardless, it is going to be a hot, slow summer for our industry, and with last week’s forecast by Brian Wieser, Global Director by Interpublic Group Companies’ Magna, it maybe a very cold winter.

On July 13th, Wieser forecast that revenue from media suppliers would drop from $189 billion to $161 billion.  That $28 billion dollar drop represents all media buys – but reflects the weakness in advertising, which directly impacts the print world.  In a report by Michael Bush with “Advertising Age,” Wieser was reported in saying that there 2010 would be down by 2% with no growth occurring until the second half of ’10.

If Wieser is correct, and your business has historically worked with advertising agencies and other similar advertising buyers, it’s time to start rethinking your plans for the rest of 2009 and 2010.

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One thought on “Rethinking 2010

  1. Joe,
    Always good to have a cup with you!
    We discuss that we need to re tool, re think and re build our industry…and the word is that this is a must for survival…
    But I have not seen or read any solid ideas on how we, as an industry, begin making the changes.
    Let’s begin by looking at how to proceed for the up swing and take it from there…if anyone has thoughts I sure would like to hear them!
    Thanks, and great job Joe in getting the discussion started!
    Bill Gibson

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