Posted October 12, 2018 08:50:49Advertising managers across Australia’s major media organisations have been contacted by ad agencies seeking advice on how to stay competitive in an era of low revenue, according to the Advertising Manager Salary survey.
Key points:Advertising agencies are concerned about the impact of ad revenue cuts and the new government’s decision to remove the minimum wageA large majority of ad agencies are worried about the loss of advertising revenue and want to know how to surviveThe survey was conducted from November 2 to 3 across Australia, and was commissioned by the Australian Council of Advertising Professionals and the Advertising Standards and Ethics Commission.
It found that 73 per cent of the agencies surveyed would consider leaving their current positions if there were a significant drop in revenue, while only 37 per cent felt they were ready to do so.
Advertising revenue is the main source of income for most media organisations, and the Federal Government has announced a cut to the minimum income wage to $16.50 an hour by July 1.
“We know the average advertising agency has lost around $1.2 million a year over the last 10 years, so we want to hear from the ad industry as to how to keep our jobs and where we can find new ways to deliver great value to advertisers,” said Craig McDonough, general manager of communications at the ABC.
“Advertising is a vital part of a journalist’s job, and we’d love to hear your thoughts about what you’d do differently in the industry.”
The ABC has been contacted for comment.