HONG KONG: The Association of Accredited Advertising Agencies (4As)
of Hong Kong has abolished its HK$20,000 (US$2,500) pitch
fee policy as the global economic slump continues to dent adspend.
The pitch fee policy, introduced over a year ago, had the backing of the
Hong Kong Advertisers Association (2As). Nancy Pang, vice-chairman of
the 2As, said: "It is a pity that the 4As and its members could not
persist in keeping it. Charging pitch fees not only benefits ad
agencies, but is also healthy for the industry as a whole as it makes
advertisers think twice before they hold a pitch."
The 4As decided to drop the policy, which it felt was not part of the
key issues now facing the industry. The association said its key mission
under the current circumstances was to attract the best talent and bring
recession-proof skills to advertising.
