2008 Outlook During Economic Slowdown
Our CEO passed along an article from the Economist that contains some interesting points. Keep in mind that this is more from a global perspective:
-Maurice Levy (Publicis) expects ad budgets to be reduced in '09 versus '08 because of big ticket events in 2008; namely US election, Olympics in Beijing and the European football challenge.
-Martin Sorrell (WPP) expects 2008 to be a reasonale year but indicates that 2009 could be painful.
-Underlying growth in ad spending will come from mainly emerging markets and the internet.
-TV and print expenditures will likely be most impacted by any economic downturn.
-Search expenditures will likely be the safest.
It will be interesting as the gap between time spent online and online ad expenditures narrows. Obviously the economy will have a massive influence on what happens over the next 12 months. See "Hard Sell"
