The new and digital media has completely transformed the marketing and advertising industry.
The new and digital media has completely transformed the marketing and advertising industry. This has reflected in the reports about the advertising agencies of Australia by the IBISWorld which changed updated its report recently.
The advertising industry is driven by the economic conditions of the clients. In the past five years, the high cost involved in advertising in the main media as well as fragmented media viewing habits of the people have compelled the clients to utilize below-the-line communication in ad campaigns. This has had a negative impact on the marketing and advertising industry. Smart phones, iPhones, iPads, cheap internet, pay TVs, etc. are all responsible for the fragmentation in viewing habits of the masses. This has made the ad agencies reinvent themselves and find new means of advertisement in the new gadgets and technologies; as told by the industry analyst of IBISWorld, Alen Allday.
The forecasts of IBISWorld’s reports state that this year the industry would generate 1.9% more revenue than the previous year. Allday said, “Increasing competition from similar services such as marketing and public relation firms will eat into potential revenue sources, while greater investment will be required to continue to adjust to new mobile and online advertising spaces.”
The consolidation of the marketing and communications business that is going around across the globe will affect the industry in the country as well. More and more firms are operating now under the holding model.
To read more about the various changes the marketing and advertising industry is going through, visit the directory submission in http://pushproject.org