IN the past 3 months some advertising agencies have been reporting a decrease in spends, and client wins are becoming smaller (on average).
It appears that based on these reports alone many are bracing for a double dip recession.
“Billables though the same client are down at least 25%” one agency executive stated.
Another agency in a differing part of the country stated “I don’t understand why many of our clients are opting for the smaller spends rather than the bigger campaigns, they all have a sense of fear that things are going to get worse, not better”
Generally speaking when business sediment is that things are going to get worse, the businesses spend less on advertising. It appears that the reports we are seeing, ad agencies are seeing smaller client spends in the first and second quarter of 2010.
This is going to get ugly people...Tribble Ad Agency : The Advertising Agency of Record