The Interactive Advertising Bureau announced that Greg Stuart will step down as CEO at the end of the year to pursue new opportunities. The IAB board has hired search firm Spencer Stuart to do an executive search for his replacement. Stuart had been with the IAB since 2001. "Greg has been a tremendous leader of the IAB and has done a fantastic job on behalf of the entire interactive industry," said Jim Spanfeller, chairman of the IAB board, in a statement. The IAB represents more than 250 interactive advertising companies.
Study: newspapers face $20B shortfall
The newspaper industry is facing a revenue shortfall of $20 billion by 2010, according to a report released by media research and advisory firm Outsell. The report, "Deadline With Destiny," is based on analysis of national industry data. The data tie together the mature businesses of circulation and print advertising and the emerging online ad business to predict revenue trends for the next five years. The report predicts the decline of paid circulation revenue for print newspapers will speed up as 18-to-39-year-olds continue to migrate online. It also stated that newspapers' online ad revenue growth rate of about 30% masks the larger problem that online revenue is not replacing lost print revenue fast enough. Outsell concludes that news organizations must consider lowering their operating margins from an average of 21% to levels more commonly seen in business.
Spencer Stuart finds CMO tenure shrinking
The tenure for chief marketing officers at consumer companies declined to an average 23.2 months from 23.5 months in 2005, according to a report released last month by recruiting firm Spencer Stuart. The report was based on Spencer Stuart's proprietary data on the top 100 consumer-branded companies. Spencer Stuart identified several factors for the declining tenure of CMOs, including increased performance expectations and more sophisticated skills required for the job. A May study of nearly 300 senior marketers, also conducted by Spencer Stuart, found that while 85% said it was critical for CEOs to communicate with marketing, less than half were actually doing it.
'Time' magazine opts for Monday on-sale date
In a reflection of the furious competition for readers, Time will shift its on-sale date to Friday from Monday starting in January 2007. Under the plan, the magazine will be on newsstands on Friday and the majority of Time subscribers will receive the publication on Saturday. The change, part of a larger plan to reconfigure the weekly magazine and Time.com, is a return to the magazine's original Friday on-sale date established by founding editor Henry Luce in 1923 and maintained for 32 years.
FedEx 'Stick' spot wins creative Emmy
FedEx won a prime time Emmy award at the 2005-2006 Creative Arts Primetime Emmys, presented by the Academy of Television Arts & Sciences on Aug. 19 in Los Angeles. The commercial, which depicts cavemen trying to send an overnight package, was created by BBDO New York. The award is the first commercial Emmy for FedEx. This year, "Stick" also won a Bronze Lion award at the International Advertising Festival in Cannes. The commercial is part of FedEx's "Relax. It's FedEx" campaign.
Epsilon Interactive acquires Big Designs
E-mail marketing company Epsilon Interactive announced it has acquired Big Designs, a creative design agency. Financial terms of the deal were not disclosed. Big Designs will keep its name and operate as a division of Epsilon. Anthony D'Elia, president of Big Designs, has been named senior VP-chief creative officer at Epsilon. Big Designs serves both b-to-b and consumer clients. Its b-to-b design clients include CMP Technology, King Fish Media and Reed Business Information.
WPP's Grey Healthcare buys Catalyst on-line
Grey Healthcare, a WPP agency, announced the acquisition of Catalyst on-line, a Boston-based agency that specializes in search engine marketing. Financial terms were not disclosed. The acquisition bolsters Grey's online marketing services, including search engine marketing, Web site design and consulting.