Thursday 10 April 2008

Time for traditional advertising to adapt, says comms chief

The traditional advertising model must adapt in order to compete with competition from internet companies.

According to Maurice Levy, chief executive of advertising and communications company Publicis Groupe, who was speaking at an industry conference, the business model is out of date and must change, reports Brand Republic.

"The very model of our industry is being called into question. The model today is no longer valid, no longer relevant. Our role will remain strong, firm, indispensable. All we must do is adapt," he said.

He added that he had "respect" for internet companies, such as Google, Yahoo and Microsoft, despite facing growing competition from them.

According to new figures collected by the Internet Advertising Bureau, spend on the traditional media of television will be overtaken by internet advertising in the UK by the end of next year.

Chief executive of the IAB, Guy Phillipson, said that it was clear that marketing directors now recognised the value of the internet to drive their businesses, "and more and more are using rich media and video to build their brands, just as they do on TV".

Category: Marketing campaigns

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