2008 Forecast: Ad Execs Not Optimistic

Posted on 1/9/2008 by Julia Dudnik Stern | Printable Version | Comments (0)

The Industry Measure Business Optimism Index for ad agencies dropped by 10 points in six months, from last summer's 108.

The latest poll is in line with ad-revenue projections from a number of independent sources, such as ZenithOptimedia and GroupM. Both forecast a dismal year for the U.S. industry, though several markets in other parts of the world offer more promise.

Ad executives' forecasts have been on the downward trend since summer 2004. Only the summer 2007 survey showed a brief spike of optimism.

Though the Industry Measure's newly released Creative Forecast 2008 says that 37% of ad agencies expect this year to be excellent, the company says that a "wall of worry" is being constructed. In the Web design and development arena, less than one-quarter of survey respondents expect a profitable year. The researchers caution that industry-wide pessimism and the general public's concern of a possible recession may bring it about, "especially if companies reign in spending and investment out of fear."

Despite dire forecasts, at least two forthcoming events are certain to attract marketing, advertising and design dollars. Both the U.S. elections and the Beijing Olympics will generate multiple commercial projects and editorial coverage on a global scale.

In addition, creative researchers at Corbis suggest that rising levels of financial concerns may have a silver lining. The latest edition of Story Packs, which promises to "beat the news to the newsstands" by previewing topics that will be popular within the next three months, says personal finances will get much editorial coverage. Subjects to watch will span from investing and savings to budgeting, credit cards, home ownership, expenses and debt elimination.

Copyright © 2008 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


Be the first to comment below.

Post Comment

Please log in or create an account to post comments.

Stay Connected

Sign up to receive email notification when new stories are posted.

Follow Us

Free Stuff

Stock Photo Pricing: The Future
In the last two years I have written a lot about stock photo pricing and its downward slide. If you have time over the holidays you may want to review some of these stories as you plan your strategy ...
Read More
Future Of Stock Photography
If you’re a photographer that counts on the licensing of stock images to provide a portion of your annual income the following are a few stories you should read. In the past decade stock photography ...
Read More
Blockchain Stories
The opening session at this year’s CEPIC Congress in Berlin on May 30, 2018 is entitled “Can Blockchain be applied to the Photo Industry?” For those who would like to know more about the existing blo...
Read More
2017 Stories Worth Reviewing
The following are links to some 2017 and early 2018 stories that might be worth reviewing as we move into the new year.
Read More
Stories Related To Stock Photo Pricing
The following are links to stories that deal with stock photo pricing trends. Probably the biggest problem the industry has faced in recent years has been the steady decline in prices for the use of ...
Read More
Stock Photo Prices: The Future
This story is FREE. Feel free to pass it along to anyone interested in licensing their work as stock photography. On October 23rd at the DMLA 2017 Conference in New York there will be a panel discuss...
Read More
Important Stock Photo Industry Issues
Here are links to recent stories that deal with three major issues for the stock photo industry – Revenue Growth Potential, Setting Bottom Line On Pricing and Future Production Sources.
Read More
Recent Stories – Summer 2016
If you’ve been shooting all summer and haven’t had time to keep up with your reading here are links to a few stories you might want to check out as we move into the fall. To begin, be sure to complet...
Read More
Corbis Acquisition by VCG/Getty Images
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Gett...
Read More
Finding The Right Image
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides...
Read More

More from Free Stuff