The Rise of Advertising

Bob Schmetterer
Havas and Euro RSCG Worldwide

They say advertising is dead, outdated, outmoded

They say advertising is out-of-step with today's businesses and today's economy.

The industry, they say, insists on throwing time and money into expensive, overblown, sensationalistic advertising campaigns; Superbowl spots; commercials that win awards for the agencies but bring little value to clients.

Clients, they say, don't trust advertising agencies to make strategic business decisions. Agencies need to be reigned in, told what to do.

Our industry, they say, has become too hubristic, self-indulgent, irrelevant.

Or so they say…

Meanwhile, the advertising industry has seen its worst downturn in decades… against the backdrop of crippled economies and uncertainties. The newsflow from analysts is equally bleak. One says the risk to estimates is clearly on the downside. Another has cut earnings estimates and ratings on the whole sector.