Maurice Levy: Print will struggle to recover after recession

Speaking at the FIPP World Magazine Congress in London, Tuesday May 5th, Levy said that newspapers' and magazines' share of the advertising market would continue to shrink in 2011, despite economists' forecasts that overall growth in media revenues could return by that time.

"The current crisis is not the cause of the problems of the media industry, it's just a brutal accelerator and identifier of long-term trends," he told the congress of international magazine executives. "Let's face it. The traditional model for analogue media [print] is broken."

Levy, whose company owns ad agency networks across the globe including Saatchi & Saatchi, said his businesses were increasingly faced with clients wanting "a couple of words on a search engine page", rather than an expensive TV campaign.

Almost half the money spent on digital advertising now went to search engines, he added. Article in full from the Guardian here.