Advertisers in Malaysia spent RM5.9 Billion in 2009. That’s an increase of almost half a Billion from 2008, which was at RM5.5 Billion. Advertising spend is perceived to be a strong indicator of a nation’s economy.
Well that’s what the Malaysian Advertisers are spending, but are the consumers buying? It’s hard to tell really, because sales figures are closely guarded secrets, so there’s no way of knowing for sure. But for discussion’s sake, let’s say that we’ve managed to make people spend money they don’t have on things they don’t need quite admirably in 2009.
Think about it. Almost RM6 Billion. That’s a six followed by 9 zeros – 6,000,000,000! And why are advertisers spending such insane amounts of money? Essentially, it is in hope that consumers return the favour. Yes, so that consumers consume more and ‘invest’ in products and services perceived to be of better quality.
ADEX in Malaysia by Media (RM Mil)
Source: The Star, 2 Jan 2010.
Please note that the above figures are only Ad spend on Media. Meaning creative cost not included.
So how much do you think all the agencies in Malaysia charged their clients for creative work in 2009? Definitely not RM6 Billion I’m sure. And I wonder how handsomely my fellow creative workers have been compensated last year? Well, if all the money is spent on media, what left the agencies?
Maybe because spending on good creative and strategies were so little, it didn’t even merit a mention. I guess it’s the norm. The middlemen get the dough, while the fishermen get peanuts. And they complain there’s not enough creative talent to go around!
I want to look for a job in media.