"According to the Union of Belgian Advertisers and researchers Profact [as published on Digimedia (dutch)], there is no crisis on the Internet. According to this report, 90% of all advertisers said the crisis does impact the way they work and over 80% reduced their budgets by 10 to 20%.
Where it gets interesting, is where they are spending their money. 55% of all advertisers said they will spend less money on tv, newspaper, magazine, movie theater, radio and street ads. However, 37% of them said they are investing more in Internet advertising.
On top of that, I also see a lot of interactive agencies looking to hire extra Flash designers and developers. This week alone, I saw at least 6 job openings across Europe on Twitter. I also received a couple of emails from agencies looking for people.
While talking to agencies at both FITC and FlashCamp UK last week, I found that this seems to be a common trend. Most of the people I talked to still had plenty of work but are expecting a cutback in marketing projects. Most of the people I talked to are planing on filling any gaps with research (looking into mobile development came up frequently) and diversifying their skill set.
Now, I may be completely wrong, but to me it sounds as if “the Internet” is doing ok at the moment. I’m sure there have been some cutbacks here and there already but the bigger agencies seem to be doing alright."
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