We’re glad to hear some people acknowledging that Internet advertising isn’t recession-proof. But a lot of people at the Ad:Tech conference haven’t gotten the message yet. Here’s a sampling of the sentiment at today’s “state of the industry” panel:
- Todd Teresi, SVP, Yahoo! Publisher Network (YHOO): “Obviously there’a tremendous macroeconomic climate that’s overhanging, but digital [is] still a pretty vibrant platform. We feel good about the business itself….We’re on a very sustainable platform.”
- Jeremy Wright, Global Ad Director, Mobile Brand Strategy, Nokia Ad Service (NOK): “Once those (marketing budget) cuts are made in traditional media, we won’t see the budgets go back. We have no worries.”
Yes, these guys are basically professional optimists, so we hardly expected them to stand up and declare the death of the industry (nor do we think the industry is dead, obviously). But more of the temperate caution offered by Jennifer Moyer, COO of Washingtonpost.Newsweek Interactive (WPO), would have been nice: “I don’t know that branded publishers like ourselves will be the primary beneficiaries of that move (the purported shift of ad dollars online during the recession). I think it will obviously benefit the industry overall, but different segments of the industry will benefit more than others.”
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