Wael El Hus­seini

Man­ag­ing Di­rec­tor Publi­cis Le­vant & Op­ti­me­dia

ArabAd - - COVER STORY -

STAGNANT AT BEST

Stagnant at best de­scribes the cur­rent state of the Le­banese ad mar­ket. It has been years since we have seen any sig­nif­i­cant pos­i­tive move­ment in terms of growth. This is not sur­pris­ing given the ster­ile per­for­mance of the suc­ces­sive Le­banese gov­ern­ments over the past decade, which is re­flect­ing neg­a­tively on the per­for­mance of all key in­dus­tries in Le­banon, not just ad­ver­tis­ing. In short, it is not evolv­ing and will not evolve, not un­til the Le­banese po­lit­i­cal gu­rus re­al­ize that they need to evolve.

MUL­TI­PLE CHAL­LENGES

The main chal­lenges we are fac­ing are namely 1) Con­tin­u­ous eco­nomic and po­lit­i­cal in­sta­bil­ity in the re­gion and in the coun­try which is re­flect­ing neg­a­tively on clients’ ap­petite to spend and in­vest; 2) This is re­sult­ing in rev­enues and mar­gins be­ing driven down, even to the ex­tent where many agen­cies are oper­at­ing at a loss; 3) This is also re­sult­ing in more dif­fi­culty on the tal­ent re­cruit­ment/re­ten­tion front, as tal­ents are seek­ing bet­ter and higher paid op­por­tu­ni­ties abroad.

PART OF THE SO­LU­TION…

I think mov­ing for­ward the in­dus­try needs to be­lieve more in its added value and be fairly re­mu­ner­ated for it. Also, Le­banon has al­ways been the stan­dard of ex­cel­lence in cre­ative ser­vices so the in­dus­try can po­ten­tially grow by ser­vic­ing clients oper­at­ing out­side Le­banon, specif­i­cally the GCC.

The in­dus­try needs to be­lieve more in its added value and be fairly re­mu­ner­ated for it.

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