| 16 Oct 2008 |
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Ad Industry to Shift from 'Very Fast to Fast Mode'
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DUBAI - The advertising industry in the the Middle East will see its growth shifting from "the very fast to fast" mode in the coming months as the global financial melt-down starts impacting the regional economies, industry leaders said.
Charles Courtier, Global Chief Executive Officer of Mediaedge:cia, a global communications planning and implementation agency, said growth markets including the Middle East, Russia, India and China would experience only a slight slow down compared to a grim global industry outlook.
"Compared to 2008, when the advertising industry was boosted by major global events including Olympics, the European football and US elections, 2009 will be flat in the absence of such big events. This, coupled with the deepening financial turmoil,indicates difficult times ahead," he said at the launch of 'MEC Access,'a specialised sport, entertainment and cause marketing business division.
Joseph Ghossoub, President and CEO of The Holding Group (THG) said UAE's advertising spend had grown 25 per cent in the first three quarters to outpace the regional average growth of 19 per cent.
According to statistics from the Pan Arab Research Centre, the UAE's advertising spend surged from $1.077 billion in 2006 to $1.3 billion last year, an increase of more than 26 per cent over the previous year.
In the first half of 2008, the UAE ad spend grew to $929 million while the total GCC spend increased by 23.6 per cent to reach $3.77 billion, compared to $3.05 billion during the same period last year. In 2008, the GCC ad spend is projected by experts to reach $8 billion, compared to $6.5 billion in 2007, an increase of 24 per cent.
Courtier said the London-headquartered MEC Access would offer clients a one-stop shop for the creation and delivery of strategic partnerships and sponsorships across nine different platforms, including the arts, brand-to-brand, broadcast, cause, celebrity, film, gaming, music and sport.
MEC Access has been appointed by Sony ElectronicsSony Electronics
' sports marketing business in the Middle East and will be responsible for managing the activation of its football sponsorships across the region. In a short time, MEC Access Middle East has already secured billings of over $4 million with pan-regional and global MEC clients.
"There is an increasing need in this market for specialised and unified sport, entertainment and cause marketing services in media management. MEC Access will work across traditional and non-traditional media and provide our clients extensive expertise across all platforms," said Ghossoub.
"Our aim is to create and develop concepts whereby consumers can actively experience the benefits of a particular product or brand through sponsorships. Our focus is on the consumer's perception of a particular brand, and how they will integrate the product in their lives, to the point that they become brand ambassadors."
"We encompass all the traditional marketing mix elements within our concepts; with MEC Access, we strive to take this to a whole new level. We are extremely excited about this new regional offer," said Yves-Michel Gabay, International Business and Development Director for Mediaedge:cia Middle East.
By Issac John
© Khaleej Times 2008
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