Advertising Week: A Year Ago and the Year Ahead - Michael Kassan - MediaBizBloggers

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As my colleague at MediaLink Michael Ginn and I were prepping for this week's Advertising Week, we recalled that it was a year ago that Lehman Bros went under signaling the start of the most serious financial crisis to ever face our generation and the advertising industry. The markets started to drop. Fear and panic rumbled from Wall St to Main St. The realization that we were in for a deep and long recession became obvious. As someone whose livelihood depends on the marketing, advertising, media and entertainment industries, my world was rocked too and is rocking still. In the spirit of having embraced Rosh Hashanah this past weekend (a happy, healthy new year to all who celebrate), I look forward to the new year with renewed enthusiasm.

Advertising Week brought the industry together in New York for what is normally a celebration of success. The best and the brightest in the industry make news with game changing and market moving announcements. Business by day. Fun by night. A true celebration of our wonderful industry. But last year was different for obvious reasons. Speeches had been prepared. Panels had been rehearsed. The set up for a packed week of industry enlightenment, catching up with friends and of course fun, was in place. But all anyone wanted to talk about was the prospect of a deepening recession and what the ramifications were for our industry, our companies, our friends and, indeed, our futures.

There is no doubt that great new ideas were presented. But nearly everyone was questioned on their prediction for where the economy was heading and on the future of the advertising business. We all handled this deftly and as best we could with the facts we had, trying to stay at least a little optimistic. But the "between sessions" conversations were very serious. We knew the stakes. While we all had yet to complete smart action plans, we had a strong sense that this might be the worst economic environment we had faced as business professionals. I believe that many of those "between sessions" conversations have continued throughout this past year and may have forged interesting new business relationships, partnerships and forced a sea change on how we all approach our businesses on a move forward basis.

This year's Advertising Week is unfolding now. No doubt there will be references made to the long, often painful year we have been through and with some humility how we have learned to take nothing for granted. The economic indicators tell us that stability is on the horizon [and note I am cautious on how I use the word "recovery"]. As Michael and I agreed, it is very obvious that we are in the midst of unprecedented change. New winners will emerge. The game is changing. Many more seeds of change will be sown during Advertising Week. The sessions and panels will be outstanding. I think a little fun will find its way back into our night lives. I know many of the "between sessions" conversations will lead to ideas, plans and partnerships that will be the foundation of successful change. That is the beauty of having so many of us in NY next week for an event that allows participation by nearly everyone in the industry, at every level. For those of you coming in from out of town, yes those are New York's idea of "recessionary" prices.

So, let's mark this date next year and plan to look back at the amount of change that has occurred and ask ourselves how much of this either started or was reinforced at Advertising Week. Enjoy everyone.

Michael E. Kassan is Chairman and CEO of Media Link, LLC, a leading Los Angeles and New York City-based advisory and business development firm that provides critical counsel and direction on issues of marketing, advertising, media, entertainment and digital technology. Michael can be reached at michael@medialinkllc.com

Read all Michael's MediaBizBloggers commentaries at Michael Kassan - MediaBizBloggers.

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