Apparently not. Most experts say that 2010 will be just as challenging for the media sector as 2009; consumer and business confidence will remain low, and advertisers and subscribers will be increasingly selective.
In a tough trading environment, the difference between success and failure is marginal. Let’s assume that 5% makes all the difference. This means publishers squeezing 5% more out of their budgets; sales directors improving their profitable revenues by 5%; and editors getting 5% extra creativity out of a budget reduced by 5%. The same principle applies for the events and research sectors – indeed, for any business.
But how does a company achieve this? Well, it requires a senior team which is flexible, dedicated, and leads by example. And that means hiring the right people for publishing in a recession and, where necessary, replacing the wrong ones.