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TrendWatch: Creative Professionals in for Another 12 Months of Challenges

Friday, September 27, 2002

Press release from the issuing company

NEW YORK, NY -- September 26, 2002 -- TrendWatch Graphic Arts today released their Creative Forecast 2003 Report, in which TWGA predicts that creative professionals should expect 2003 to be another challenging period in terms of business activity. In the TWGA Summer 2002 report, only 14% of ad agencies reported excellent business conditions, and TWGA Business Conditions Index for nearly all creative businesses hit record lows. And according to the Creative Forecast 2003 report, magazine publishers are the only publishing market who saw an improvement in business conditions from Winter 2001/2002 to Summer 2002. Yet according to the report, sales opportunities are still prevalent, just not as plentiful as they once were. The report is available for online purchase at the TWGA eStore in PDF format. For more information, please go to the TWGA website (www.trendwatchgraphicarts.com). 2003 Creative Sales Opportunities... According to the Creative Forecast 2003 report, here's some of the top sales opportunities cited by creative professionals: -- Collateral print projects, are the #1 sales opportunity, as cited by 61% of respondents, down slightly from six months ago, but it marks the second-highest percentage TWGA has recorded; -- Web page design is still a top sales opportunity, (cited by 40% of respondents) though it wasn't too long ago that Web design was the number one by a long shot. The bulk of the work has transitioned from new site development to basic maintenance, updating, and expansion of existing sites, about which creative professionals seem less enthused; -- Digital photography is at an all-time high: 39%, up from 31%, making it the #3 sales opportunity. This is especially high among commercial photographers; -- Corporate identity, which was at an all-time high of 39% six months ago, fell to just 31% this time. Corporate clients simply don't have the budgets for this type of work at the moment. Researcher's Quote... "It is no surprise to anyone in this industry that these are tough times," notes Vince Naselli, Director, TrendWatch Graphic Arts. "Yet, one of our themes throughout this report is that the economic problems the country is currently facing are only part of the story. We're also seeing major shifts in media of all kinds [from "traditional" media such as print, to the Web and digital video, and truly new media such as wireless]. It seems odd that there can be a major shift in the Web already, as it's not that old. But 'fast media' change quickly, and those in the industry that are prepared for it can capitalize on it." According to the Report... -- Cross-media communications campaigns" was the number one sales opportunity for publishers in Summer 2002; -- Increasing XML programming capabilities," is an opportunity for 18% of Web creative; -- Experts now predict that the earliest possible economic rebound won't take place until late 2003; -- In terms of Stock Images, the need for content increases, but magazines seem to have reached a saturation point. About the Report... The TrendWatch Graphic Arts Creative Forecast 2003 is a perspective on the future of the design and production, and publishing markets. The annual report provides creative and graphic arts professionals with an analytical review of the trends that impacted the industry in the last 12 months, as well as a rational perspective of what they can expect in the next 12 months. The reports answer critical questions for industry vendors and marketers, including: -- What are the forces causing change in the next 12 months?; -- Which markets are involved the most in cross-media projects?; -- What are the biggest markets for wide-format printers?; -- What'll be the impact of digital and variable-data printing?; -- And what technologies will increase or decrease in importance? Availability... The TrendWatch Graphic Arts Creative Forecast 2003 report is available for purchase by visiting the secure TrendWatch Graphic Arts eStore online at www.trendwatchgraphicarts.com or by phone at 866-873-6310. The price for the report is $1295. TrendWatch Graphic Arts eStore customers can download this report in PDF Acrobat format immediately after purchase.




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