According to a new survey by the Association of National Advertisers (ANA), marketers are still being pressured to reduce their costs and spending in light of the economy, though reductions are less severe than were reported in the three previous surveys conducted over the past 18 months.
Eighty-three percent of survey respondents report that they continue to identify cost savings and reductions in their current marketing and advertising efforts. While that represents a high percentage of respondents, this is improved from six months ago (87 percent), one year ago (93 percent), and 18 months ago (87 percent).
“Though a vast majority of marketers continue to identify cost savings and reductions, the industry is finally beginning to show more optimism,” said Bob Liodice, president/CEO of the ANA. “While it appears as though cutting costs may be the new reality, even when times are good, our series of surveys suggest that the deepest cuts may have already been made.”
In fact, roughly 41 percent of respondents report planning to reduce marketing budgets by only one to five percent (compared to 22 percent in July/August 2009) and 70 percent planned to reduce budgets by one to 10 percent (compared to 55 percent in July/August 2009). Only seven percent plan reductions greater than 20 percent (compared to 30 percent in July/August 2009).
While the top four ways marketers are reducing costs and spending have remained constant over the past 18 months, results show that marketers are putting the greatest emphasis on challenging agencies to reduce internal expenses and/or identify cost reductions as this is the only category that saw an increase in responses in each of the four surveys conducted.
The top ways marketers are reducing costs and spending are:
• 75 percent (up four percent from July/August 2009) are challenging agencies to reduce internal expenses and/or identify cost reductions.
• 73 percent (down eight percent from July/August 2009) are reducing departmental travel and expenses.
• 53 percent (down 21 percent from July/August 2009) are reducing advertising media budgets.
• And 50 percent (down 14 percent from July/August 2009) are reducing advertising production budgets.
Looking Back
Reported marketer spending in the second half of 2009 was similar to what was forecast in ANA’s previous survey. In that survey, conducted in July/August 2009:
• 39 percent of marketers thought their advertising budgets would be reduced in the next six months, when in fact, 46 percent experienced a budget decrease.
• 44 percent thought their budgets would remain the same, while 34 percent did indeed stay the same.
• And 17 percent thought they would see a budget increase, whereas 20 percent increased.
Looking Ahead
Though the majority of marketers forecast no change in spending for the balance of 2009, predictions about advertising budgets in the next six months suggest some degree of optimism since the last survey.
• 59 percent expect budgets will stay the same.
• 22 percent forecast that budgets will be reduced (versus 39 percent, 49 percent, and 53 percent respectively in the last three surveys).
• And 19 percent are hopeful budgets will increase.
Jennifer Kent On Why Her Feature Directing Debut, “The Babadook,” Continues To Haunt Us
"The Babadook," when it was released 10 years ago, didn't seem to portend a cultural sensation.
It was the first film by a little-known Australian filmmaker, Jennifer Kent. It had that strange name. On opening weekend, it played in two theaters.
But with time, the long shadows of "The Babadook" continued to envelop moviegoers. Its rerelease this weekend in theaters, a decade later, is less of a reminder of a sleeper 2014 indie hit than it is a chance to revisit a horror milestone that continues to cast a dark spell.
Not many small-budget, first-feature films can be fairly said to have shifted cinema but Kent's directorial debut may be one of them. It was at the nexus of that much-debated term "elevated horror." But regardless of that label, it helped kicked off a wave of challenging, filmmaker-driven genre movies like "It Follows," "Get Out" and "Hereditary."
Kent, 55, has watched all of this — and those many "Babadook" memes — unfold over the years with a mix of elation and confusion. Her film was inspired in part by the death of her father, and its horror elements likewise arise out of the suppression of emotions. A single mother (Essie Davis) is struggling with raising her young son (Noah Wiseman) years after the tragic death of her husband. A figure from a pop-up children's book begins to appear. As things grow more intense, his name is drawn out in three chilling syllables — "Bah-Bah-Doooook" — an incantation of unprocessed grief.
Kent recently spoke from her native Australia to reflect on the origins and continuing life of "The Babadook."
Q: Given that you didn't set out to in any way "change" horror, how have you regarded the unique afterlife of "The... Read More