Friday, January 23, 2009

A year to remember?


Tip of the DNA hat to the team at Sticky for alerting me to this quote from one of the titans of Aussie adland, media man Harold Mitchell.

"This year will be seen as the centre year of great change. In the past two significant changes people and companies got left behind; others emerged, fortunes were made. In the past 25 years there have been three such periods of change. In the late 80’s every major media company changed hands, except News, following the Wall Street crash of October 1987.

In 2001 the advertising industry went into reversal following the dot com boom and bust of 2000. Now, after a seven year bull run on world stock markets, the downturn that started in November 2007 continues. Each of these changes brought structural change in the media industry.

The changes this time will see the cementing of the digital age as the permanent force in media. Everyone is scrambling to catch up. Ad agencies are starting digital divisions, media companies are boosting their digital arms. Make sure that you’re not left behind mumbling analogue thoughts that only the dinosaurs can understand."

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