As the economy goes…so does ad spending.
I recently posted about the inevitable consolidation and re-organization of companies during economic downturns. There are hints of this in the New York Times article:
Time Inc., the world’s largest magazine publisher, plans to cut 6 percent of its work force — more than 600 positions — and will revamp the organization in a way that could radically alter the culture at the company….
…The company, a division of Time Warner, the media conglomerate that includes CNN, Turner Broadcasting, HBO, AOL and the Warner Brothers movie studio, is facing the twin perils of a shifting landscape from a severe downturn and a loss of readers and advertisers to the Web.
The New York Times has the story here.
It should be interesting to see how this shakes out. What kinds of consolidation we’ll start seeing. The weaker companies should become more exposed making room for the less weak to initiate buying opportunities. Welcome to the Wild West.
Happy Holidays!
