Loerie entries fall again
Decline reflects continuing tough conditions
ENTRIES TO THE LOERIES – South Africa’s premier advertising awards competition – have dropped for the second straight year in a clear indication that the advertising economy is still feeling the lingering effects of the recession. But there are signs of improvement. The 4% decline in professional (excluding student) entries is relatively modest, after a 7% drop last year.
Awards entries are a good indicator of the industry’s health, says Loeries CEO Andrew Human, because they reflect indirectly a number of indicators: the volume of new work produced during the year, client propensity to risk daring work and agencies’ willingness to pay for entries.
“It’s a first-line indicator of the overall health of the economy, a measure of the health of the brands behind the advertising and their available marketing budgets,” says Human.
Student entries, which usually account for 13% to 15% of the total, fell by more than professional entries, taking the total decline to 5%.
Unsurprisingly, the design category experienced