More than a third of independent media agencies expect clients to increase spend from September, according to the first Pulse Survey from the Independent Media Agencies of Australia (IMAA).
The COVID-19 pandemic has seen client spend contract but most media agencies are confident this will return. One in five (20%) say spend will resume this month.
The Pulse Survey was conducted among the IMAA’s 31 members in June to gain insight into the mindsets of independent media agencies on current market conditions. The survey will be conducted twice a year.
Almost four in 10 independent media agencies have had revenue cut by up to 50% during the pandemic. Another 18% of agencies had a 50%-70% revenue impact to their business, while 20% saw only a 10%-20% revenue impact.
“The IMAA survey results provide highly valuable insights for our media partners on how they are positioned in terms of relationships, innovation, data, etc. The feedback to date has been very positive,” says IMAA.
IMAA members were also asked about plans to return to offices and resume face-to-face client and media owner meetings.
More than a third (37.1%) said client meetings would return from this month, with 28.6% saying media owner meetings would also resume this month.
The majority of agencies also said staff would return to offices from June and July.
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