Monday, March 15, 2010

The advertising press.

Like many of my generation, I read two advertising trade journals, Adweek and Ad Age as well as the ad column in The New York Times. None of these purportedly legitimate sources have done a whit of serious reporting on what's going on in the advertising industry.

Daily it seems we are updated about the efficacy of Twitter, or Alex Bogusky's latest escapades, or some minor campaign by some minor advertising potentate. We hear about nearly everything that doesn't matter and almost nothing about what does.

Unemployment in the advertising industry is running at probably between 25% and 50%. My guess is that Y&R is down 600 people from its pre-WPP peak. Ogilvy is likely down 500 people from its early 2000s heights. BBDO. D'Arcy/Publicis. And more.

In fact, I just ran across these sentences (belatedly) in Ad Age: "After a nearly yearlong hiring freeze and having shed 14,000 employees, WPP chief Martin Sorrell had a bit of good news last week: The holding company is staffing up.

It's a welcomed announcement for an industry that lost almost 200,000 jobs between December 2008 and January 2010."

An industry that's lost nearly 200,000 jobs in one year and it gets no press coverage.

No wonder print media is dying.

It's stopped doing its job.

4 comments:

Tore Claesson said...

is that the US only?

geo said...

I suspect it's world-wide. And not mentioned at all, regardless. Whereas SXSW receives more ink than a tattoo convention.

Anonymous said...

An official report by the Washington Post I believe said the job losses in advertising were 180,000 in the US. Probably conservative. But every talentless hack I've ever known seems to have a job while the talented people are struggling. Also, those nearing 50 are simply fucked, they will never work again. I live in hope that one day I will see an ex creative director of mine making lattes in a Starbuck's. I will tell him he fucked it up and demand he make it again and again until he gets it exactly right. Then I'll make him take it as an enema, I hate coffee.

Anonymous said...

An official report by the Washington Post I believe said the job losses in advertising were 180,000 in the US. Probably conservative. But every talentless hack I've ever known seems to have a job while the talented people are struggling. Also, those nearing 50 are simply fucked, they will never work again. I live in hope that one day I will see an ex creative director of mine making lattes in a Starbuck's. I will tell him he fucked it up and demand he make it again and again until he gets it exactly right. Then I'll make him take it as an enema, I hate coffee.