Jack Myers Paints A Bleak Picture

From what I understand, people tend to listen and respect Jack Myers. Writing on The Huffington Post, he says things in Ad Land don’t look good, and may stay that way for a while:

While I have been a bear on the 2009 media economy since 2007, I’m joining the chorus of forecasters who are expecting the market to be far more negative than originally anticipated. If current projections hold, advertising revenues will decline for the first time since the 1930s for three consecutive years from 2008 to 2010. And for the first time total marketing communications budgets will also decline, reflecting an overall decline in total marketing budgets for the first time since the great depression. (Myers is the only major forecaster that incorporates 18 media categories including emerging growth media plus six marketing communications categories in our forecasts.)

Ouch. He’s not just predicting a shift in spending away from traditional media, he’s predicting a reduction across the board.

About Dan Goldgeier

Blogging on AdPulp since 2005, Dan Goldgeier is a Seattle-based freelance copywriter with experience at advertising agencies across the U.S. He is a graduate of the Creative Circus ad school, and currently teaches at Seattle's School of Visual Concepts. In addition, he is a regular columnist for TalentZoo.com. Dan published the best of his TalentZoo.com columns in a book entitled View From The Cheap Seats: A Broader Look at Advertising, Marketing, Branding, Global Politics, Office Politics, Sexual Politics, and Getting Drunk During a Job Interview. Look for it on Amazon in paperback and e-book editions.

Comments

  1. There’s more from Dow Jones:

    “It’s not just economic,” Myers said in an interview with Dow Jones Newswires. “It’s secular and systemic. It’s like moving from an agrarian economy to an industrial economy.
    “The big media agencies are trying to transform themselves and adapt, but their compensation models and their clients are obstacles to them doing that,” said Myers. “The creative agencies are huge obstructions to the changes that need to take place in media.