Advertising Age is reporting many media sellers have already given up on meeting their 2008 targets following last week’s Wall Street collapse. Though acknowledging the financial situation could be a lot worse, sellers fail to see an upswing in the near future when it comes to financial advertising dollars, especially since financial advertising has been suffering even before last Monday. “In the finance category, I feel like we’ve already felt the downturn,” Michael Rooney, chief revenue officer for the Dow Jones consumer media group, told the magazine. “The financial category, which obviously is our core, has been down all year.”
—Christopher Perez