Middle East looks up after advertising spending bottoms out
After enduring three years of sustained cuts, OMG MENA’s CEO, Elie Khouri sends a message of optimism to the ad industry
In his latest interview with Gulf News, Elie Khouri shared his perspective on the causes behind the ad spend drop. He explained the signs that show that there is light at the end of the tunnel and that the worst has passed.
“In the last few years many marketers did not meet the high expectations they had for this region. They reacted with extreme cuts in advertising budgets. We’ve touched bottom, but from here onward, things are going to look up”, Khouri assured.
The fourth quarter of 2017 showed the first signs of recovery and ad spends have slowly continued to pick up during the first weeks of 2018. However, the increase will be industry selective. UAE and Saudi’s public sector entities are in line to spend on campaigns that support governmental changes.
The banking industry, entertainment and automotive could do well. But the fast-moving consumer goods industry is unlikely to join in the cheer. FMCG will remain under strain for a while, because globally they are under pressure from cost cuttings.
The interview also covers how this renewed flow of advertising investment will impact different media channels. As clients shift to performance, we must be ready to lead the way with our digital transformation agenda.
Read the full interview, Middle East looks up after advertising spending bottoms out, in Gulf News.