The Economist searches for people who think the ad business isn’t going to tumble this year. It finds some — in the corner offices of giant ad firms.
Maurice Lévy, chief executive of Publicis Groupe, a French advertising firm, reckons that despite the chance of a recession in America, 2008 will be a good year for sellers of ad-space. Three big-ticket events—America’s presidential election, the Olympics in Beijing and the European football championship—could add as much as 1% of additional growth to advertising expenditure, he says, which could partially offset economic weakness.
The downside: Even optimists like WPP’s Martin Sorrell that that we’re due for an ad pullback. They just think we won’t get one until 2009, when the elections and the Olympics are fond memories.
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