Perspectives – The crisis and the agency model
Author: Peter Horgan
Facing a crisis, our industry rose to the challenge. 2020 was not the year we expected back in January. When the proverbial hit the fan in March, advertisers slammed the brakes on media spend almost instantly. According to SMI data, in April — the first full month of COVID-19 lockdowns — we experienced a 35.4% drop in media spend. In other words, $331.13 million was pulled out of the market.
