2009 has become the year to forget for the advertising industry.
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“If you look at 2009, we have not seen a convergence of so many issues and crises at the same time. It was the perfect storm,”says Maurice Levy, chief executive of Publicis Groupe, one of the world’s largest ad companies, with clients including General Motors, Procter & Gamble and Coca-Cola.
It’s “the worst” the business has seen since Zenith began tracking ad spending 21 years ago and “likely the worst since World War II,” says Steve King, Zenith’s global CEO.