Media Execs Expect A Rebound Before Years End
August 10, 2009 at 4:44 AM (PT)
Media buying firm STRATA, owned by COMCAST CORP., has released their latest quarterly survey, and are reporting that despite the worst recession the advertising industry has experienced in some time, a 67% majority of media agency executives think the economy will rebound by the end of this year. The surbey also projects that 80% of the respondents plan no more layoffs in 2009, and 15% may, in fact, add to their workforce this year.
MEDIAPOST.COM reports STRATA expects Spot radio "to hold its own, as agencies and marketers shift to more affordable reach media to stretch their advertising dollars."
Radio continues to be an affordable and efficient way to reach an advertiser's target market.
"In recent months, we have noticed an increase in advertising," KATZ MARKETING SOLUTIONS Pres. BOB MCCURDY said in the STRATA report. "Radio continues to be an affordable and efficient way to reach an advertiser's target market. Across the country, we continue to have in-depth discussions with various agencies and advertisers about how to best and most creatively utilize the medium."
Print media took the biggest hit in the survey, with 65% of respondents confirming their focus on print will be "less than last year," a drop of 37% from the first quarter of 2009. The Internet remains on the rise, with 75% of respondents focused more on the Net than a year ago -- a 20% increase from the first quarter of 2009.