Battling the ad wars

by Anthony Mills January 1, 2004

written by Anthony Mills January 1, 2004

An uphill battle awaits the advertising sector in 2004 as it struggles to reverse a plunge in revenues – which have dropped roughly 30% since January 2003 – played out against a backdrop of allegations of unfair competition and mafia-like cartels. As another desperate year draws to a close, many in the sector predict financial disaster in 2004. “I hope that 2004 will not be worse than 2003 because if the annual drop in advertising revenues continues at this rate for another three years, there will be no advertising industry anymore,” warned Dani Richa, managing director of Impact/BBDO Lebanon. “Next year will be no different from 2003,” predicted Wassim Rizk, regional director of media group CSS & Grey. “There will be a continuing decline in revenues because of the downturn in the economy – which we in advertising are a reflection of.” However, Talal El Makdessi, chairman and CEO of

Anthony Mills

M. Anthony Mills is a senior fellow at the American Enterprise Institute and the Pepperdine School of Public Policy, as well as a scholar associate of the Society of Catholic Scientists. Previously, he served as associate editor of The New Atlantis, executive editor of Big Questions Online, and was a journalist at Executive magazine in Lebanon. Mills holds a Ph.D. in philosophy from the University of Notre Dame and writes extensively on topics related to science and philosophy.

Battling the ad wars

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