Ad body ditches pitch fee policy amid downturn

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.

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