The News & Observer is reporting that lower ad spending is affecting at least two Raleigh Ad Agencies.
The King Partnership, a Raleigh ad agency and their subsidiary Capstone production group lays off another five, leaving it with just fifteen employees from a peak of nearly 40. Read the full N&O story here.
RBW ad agency fared a little bit worse as they end up completely shutting down. The 24 year old ad agency filed for Chapter 11 bankruptcy protection in January. RBW's roster of clients included BB&T, Biscuitville, Cort, & Dollar Tree. Read their sad story here.
Though ad sales have certainly slowed, we're seeing an increased interest in affordable ad production. As this years Doritos ad in the Super Bowl proved you don't have to be a mega production studio to turn out great work. That Doritos ad cost 1/5th of standard mega agency production costs.
What clients want now more than ever is a faster, better, more affordable production source they can trust.
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