The advertising industry is grappling with the prospect of the 50s.
The advertising sector is in crisis, with revenue at a four-year low and an estimated $1.3 billion of revenue from the advertising market, according to the Australian Council of Advertisers.
Advertisement Advertisement Advertisement Advertiser Tribune, which organises the advertising world’s biggest advertising fair in Adelaide, said in its 2017 annual report that it had seen a decline in advertising spending since the turn of the century, partly because of the global financial crisis.
But it said it was optimistic that the industry could bounce back in 2018.
Advertisement The market is in flux.
The number of advertising dollars in the world has fallen by more than 30 per cent, and the total spend on adverts in 2018 was only $1 billion.
But advertising revenue is expected to return to pre-crisis levels of $6 billion in 2020, according the Advertisery Council.
Advertisement It is difficult to gauge exactly how much the industry is facing.
Advertisement Advertisements will not appear on all television and online platforms for the next two years, and only on a handful of online platforms.
It is unclear whether the industry will continue to suffer.
Advertising firms have been working on an industry-wide strategy to deal with this.
“We are now in the mid-stage of this transition, which is a big transition,” AdvertisER Tribune managing director John Leggett said.
Advertisement One of the big challenges is that most companies don’t know exactly what to do with their ads.
“They don’t have a lot of information on the content, what the market is doing with their adverts, whether it is in an e-commerce market or a print market,” Mr Leggetti said.
“If you look at the content on the back of your poster or on the wall, there are no clear messages on how to reach the target audience.”
AdvertisERS are looking to find new ways to attract new customers.
Advertisement An ad on the front of a newspaper, for example, could be aimed at younger readers or the unemployed.
It could be targeted to older people or the disabled.
Advertisement There are also a number of new advertising platforms available.
One such platform, AdMob, allows advertisers to post their own ads and then collect revenue from them.
It has been launched by two American companies, Facebook and Google.
AdMob has more than 50 million users and is one of the fastest growing ad networks in the US.
Facebook has also launched a digital billboard campaign, targeting the elderly.
It launched its own ad platform in 2017 and has recently expanded its reach to include billboards.
“The ad network is an amazing asset for advertisers,” AdMob CEO Jeff Jarvis said.
Mr Jarvis said the advertising industry was looking to expand its reach and target people on a broader spectrum of income levels.
“Advertisers are going to have to rethink how they spend their advertising dollars.
They have to look at their ad spend differently,” he said.
The ad industry will also have to adjust to the changing environment.
“For the next couple of years, the market will be a bit more volatile, and there will be lots of changes in advertising,” Mr Jarvis explained.
“You will have to start thinking about the way you spend your advertising dollars, and it is going to be challenging.”
The Advertising Standards Authority is investigating the situation.
“It is clear that we are in a period of transition, but we are not yet at the point where advertising is not relevant,” Mr Hutton said.
Advertisements are already being targeted to younger people and older people, Mr Jarvis added.
But there is also a need to find a way to attract the younger and older users who will be looking to engage with the advertising medium.
“At the end of the day, advertising has to be relevant to people’s lives,” Mr Farr said.