Despite releasing strong third-quarter results, Sir Martin Sorrell declares the “jury out” on 2005. Sorrell’s statement said that it was hard to gauge the strength of the major economies, and therefore the prospects for marketing services, in the US and Europe.
I can’t comment on advertising, but the outlook seems positive for face-to-face marketing and corporate entertainment in the UK. I can tell that 2005 is already shaping up to be a good year, because the planning and budgeting for these events, particularly premium occasions such as corporate weekends at the Monaco Grand Prix, is already well advanced. Most of the larger, more prestigious events are planned 12 to 18 months in advance, giving plenty of long-term visibility about the state of the live entertainment market.
Also, as we approach Christmas, we see companies spending more than last year on their Christmas entertainments. This too augurs well for next year.