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Thats very perceptive of you to notice as someone new to the industry. Ive been in 20 years, so to me budgets have gone way DOWN, the down some more, then down further, and deliverables have gone up (and things like shooting digital videos and BTS videos on a set). Getting clients to spend any money is basically pulling teeth, and they have to be convinced theyre "getting so much more" so many "assets across multiple channels" than theyre paying for.
Its a sad perversion of how much fun this industry used to be, thats happened ever since the 2007 slowdown and recession---but you can see that to people like our friend @Director1 up there, its the new normal and doesnt seem that out of place.
Also same
Clients budgets are getting tighter and tighter, and they want the same plus more. The fun clients will try and tell you how much projects should cost 🤣
I think it’s true and a fair observation
Not really. Frame it up. It’s all about sizing and format. It’s generally a still or a few along side of a few videos. It’s just in more sizes. Be best and be the producer who figures out how to make more stories out of the asset ask.
“Stayed the same” was the language. Not gone down. Meaning delivering more for the same. Most agency work is just a 30/15/6 in formats. Unless you do a blowout...which doesn’t happen except for the most creative of clients. Are budgets down from 5+ years ago, sure. I won’t argue that. But I’ve been doing this a long time. I’ve made commercials for big clients on film for well under 100k...so it’s not like I don’t know.
Ok, follow up question - are PMF budgets shrinking as well or just production budgets? It would make sense to me if production budgets were shrinking to accommodate the increased number of personnel required to execute ideas across broadcast, social, in store, etc. Otherwise I have a hard time seeing how this doesn't turn out into a huge price war and ultimately bad creative execution across the industry.
It’s across the board and your analysis is correct.
Chaos is a ladder.