Media insolvencies hit industry hard

August 5, 2009

According to this story, with nearly 300 companies going down in the period up to June of this year. What does it really mean?

Well, apart from a newly-redundant editorial and design pool of media types pounding on doors for work, there is the discontinuity effect on ex-clients: where do they go to get their account work delivered?

Maybe some of the ex-employees deliver on a freelance basis to some of the old clients, but this is only a piecemeal and short-term solution, particularly if a client has been used to getting full-service Agency account handling.

With this level of media companies going to the wall, more mergers look likely – and when the editorial power lies in the hands of the few, we know from experience that it is the employees who usually suffer, as their job choices are permanently limited.

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