Almost a third of IMAA members have recovered from COVID-19 financial impact

Almost a third (31%) of Independent Media Agencies of Australia (IMAA) members have financially recovered from the impacts of COVID-19, according to the body’s second member survey, conducted in November.

Out of the agencies that have not yet recovered, 47% said they plan to be financially sound by the second quarter of 2021, and 11% forecast returning to profitability by the third quarter.

In addition, almost 90% of member agencies said they plan to make new hires this year, despite two thirds of members acknowledging the pandemic had impacted revenues by up to 50%.