In 2020 and 2021, agencies will shed 52,000 jobs, according to Jay Pattisall, an analyst with Forrester. Half the jobs will not return, he predicts.
Forrester also predicts that advertising spending in the United States would decline by 25 percent this year and would not recover until 2023.
Is this a solid read? No one has a crystal ball, just loads of data, and anecdotal evidence.
As teams shrink in size, the players must wear more hats and also adjust the scope of what is possible and/or necessary.
“The consumer psyche and what they want to hear and need to hear from brands changes week to week,” says Chris Brandt, the chief marketing officer of Chipotle.
A recent campaign shot on a farm in Idaho cost “a fraction of what a full-blown production would have cost,” Mr. Brandt said. “This is the new standard. I don’t want to go back to every spot being half a million dollars.”
The client has a point. As long as cheaper doesn’t turn into more advertising-generated mental pollution.
Source: The New York Times
In Other News: L.A., City of Masks
The design studio behind Barack Obama’s HOPE campaign poster has been enlisted in the fight against COVID-19 in Los Angeles County.
The City of L.A. teamed up with Studio Number One to develop these posters for Angelenos to display at home or in shop windows.
They are free to use — all you need is a printer.
Los Angeles is a creative capital, and the city wants to harness this creativity to spread awareness about the importance of wearing masks. If you are interested in participating in this campaign to use public art for the public good, you can connect with our team at [email protected]. (lm)