2009: 'Industry downturn'

PR agencies must spend 2008 'futureproofing' ahead of a likely industry downturn in 2009, according to a top media accountant.

Vine: Agencies must 'futureproof'
Vine: Agencies must 'futureproof'

Andy Viner, head of media at BDO Stoy Hayward said he expected 2008 to be good year for PR, boosted the Beijing Olympics and Euro 2008.

In 2009, however, there will be a downturn, for which agencies must prepare.

By 2009, agencies must ensure they are not dependent on any one client. Instead they should have a mix of retained accounts - which offer security in the short and medium term - and project work.

Viner said that some sectors, such as healthcare, are ‘bearing up well.' But in general agencies should not depend on one sector for their income. This advice is particularly relevant to agencies specializing in financial services and property, sectors that are already slowing down.

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