Just when the outdoor industry is talking about the gloomy clouds of the economic slowdown lifting, a reminder that not all is hunky dory comes along.
The organisers of the Asia Pacific OOH Media Convention have announced the cancellation of the event, which was scheduled to take place in Macau on November 5-6 this year.
& #BANNER1 & #In an official communiqué, Ron Graham, chairperson of the organising committee, explains, "The event has been heavily promoted and there was a great deal of goodwill but the level of actual commitment for delegate bookings was below expectations. In addition, funding from sponsorships was also below threshold levels needed to make this event viable."
The reason for the cancellation is fully attributed to the difficult economic climate. Graham adds, "We must respect what the advertising agencies and media owners are telling us, that there is significant pressure on expenses, at least until the end of this year. When we initially planned the event, we believed the market conditions would be improving by the end of 2009, making the timing appropriate. However, reality shows that advertising media budgets are not yet growing in most of the Asia Pacific markets."
No comments were made about potentially scheduling the event for another time but it is generally understood that in better times, there would be much greater support and interest for an out of home media convention on a regional scale.