In an interview for Mediafax, Silviu Ispas says that his company, Midas Media, and Presa Buna, a brand that reunites its partners, will drop advertising prices to half starting February 1st.
Ispas believes print press will survive, but it needs to reinvent itself. He also said that people continue to read press, quoting statistics that say the same thing, and appreciates that the advertising budgets are dropping because of the economical crisis.
When it comes of Midas Media, Presa Buna and the advertising market, Ispas says they are prepared to make the most relevant gesture in the last couple years: drop the advertising prices to half, a policy that will be applied starting February 1st.
“Midas objective is that, by the end of 2011, to build a solid and viable system that will function on long term and through which the advertising clients to reach efficiently to big numbers of readers (…)”, he said.
For the moment, the local press is represented on market by 3 main advertising sales houses: Presa Buna (Midas partnerships; 22 partner newspapers and around 230,000 copies), Informmedia (10 newspapers owned by Informmedia and a circulation of 130,000 copies) and ARBOsfera (ARBOmedia’s partnerships, 34 partner newspapers with a consolidated circulation of 120,000 copies).
Founder of Midas Media, Silviu Ispas is also president of Romanian ABC – BRAT and he was recently elected in the Board of Directors of IFABC (International Federation of Audit Bureau of Circulation), during the General Meeting of IFABC, that took place in Seoul in the 1st half of October. Silviu Ispas was elected in the Board as the representative of the countries that audit yearly under 10M copies (that include Argentina, Czech Republic, Hong Kong, Korea, Mexic, Norway, Portugal and Serbia).