Ad agencies warn of tough year ahead
FT.com published a story today pointing out that three of the world’s largest advertising groups have warned of a tough fourth quarter, raising fears of a dismal 2009 in the marketing industry. The greatest revenue falls were reported in Germany, Spain and the UK.
Although I don’t have access to the financial data of the agencies here in my East Tennessee backyard, I have spoken with many of them (and I have a pretty good idea of how our finances are here at z11). Most of the agencies I’ve spoken with are currently experiencing growth, and we’re seeing business at levels well above my most optimistic expectations for 2008.
Rather than pontificate about the different types of agencies and how our little corner of the advertising world is churning along wonderfully, I just wanted to tip a glass to the other agencies out there and wish them all the best in these uncertain times.