Hasta La Creative!

The Wall Street Journal today reports low 3rd quarter ad sales for the national TV markets, specifically for Viacom (which projected a 3 percent loss for Q3) and CBS (predicted a jump from 14 to 18 percent down over Q3 2007).

“The disclosures come as ad executives are seeing more cuts in already-soft ad spending, as a result of the upheaval in global financial markets. ‘We see reductions coming from all sectors,’ said Maurice Levy, chief executive of Publicis Groupe SA, one of the world’s largest ad-holding companies.”

As a result, many of the holding companies are withholding their Q3 reports. No big surprise there, since local TV ad sales are down 4.4 percent over Q1/Q2 of this year. Sigh. Pair that with another WSJ story that indicates large ad-holding companies are tightening up in other areas as well, most importantly to you, personnel. Omnicom, Starcom MediaVest and Landor are mentioned, but look locally and you’ll see a higher propensity of the same behavior in smaller markets.

Click “continued” to read on.

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