Danny Richa, managing director of Impact BBDO in Beirut was elected President of the Lebanon Chapter of the International Advertisement Association (IAA) on March 30.
Richa is confident that, if Lebanon’s political situation changes for the better over the next few months, the sector as a whole will, despite the political setbacks, be able to match last year’s ad figures, which showed growth for the first time in years.
“Lebanon has been here before,” he said. “In any other country the consequences of the crisis would have been much more disastrous.”
Richa believes that Lebanon’s leading advertisement agencies have been spared the current economic and political crisis. “We mainly work with international clients and brand builders who plan their strategies months ahead and so far all kept their promises,” said Dani Richa. “Unfortunately, it is the smaller agencies that suffer.”
Advertisement expenditure in Lebanon has been in gradual decline since 1999, when it peaked at $105 million, falling to $80 million in 2003. According to Stat Ipsat, TV advertisement expenditure decreased from $56 million to $33 million, press advertisement from $36 to $24, while only outdoors increased from $12 to $18 million over the same period.
“Last year we crawled back into the low eighties” said Richa. Hopes were high that growth would continue in 2005. According to some experts however, the 2004 figures did not signify a structural change for the better, but were boosted by the massive multi-media campaign for the Dubai Palm Island resort.
The IAA is a tripartite association representing the interests of advertisers, advertising agencies and the media with over 3,500 members in 89 countries.
