Given the current business environment and outlook, The Advertising Club and AAAI have unanimously decided that the money towards the submission of the entries be refunded and the Abby 2020 awards be paused for the year.
It said that this is in the interest of the advertising and marketing community, given the need for cost optimisation. A sum of Rs. One crore forty lakhs received through submission of entries, thus 99% of the money received, have been refunded.
It also announced contemplating submission of two years of work in the coming year so that they will not lose out on an opportunity to enter the good work done this year.
The Advertising Club has been curating many idea exchange and awards platforms that celebrate extraordinary creative work. ABBY Awards is one such award that has been held for the past 50 years. Held every year at the prestigious Goafest, the awards have gone on to become the most coveted creative recognition in the Industry. However, it has taken an unprecedented happening – the COVID 19 and associated lockdown, to break this consistency for the first time in the history of ABBY awards.
Despite these circumstances, the spirit of ABBYs was high and it received more than 2500 entries.
Partho Dasgupta, president, The Advertising Club, said, “We stand with the A&M community during these difficult times. It has been an unprecedented year requiring unprecedented decisions. In such circumstances, it is most important to optimise costs and focus on delivering business efficiencies. Given the pressure on cost and our focus on driving the industry’s growth agenda, it was imperative to pivot towards facilitating reduction in expenditure. We are sure that the tide will soon turn and we will see a definite recovery that will allow us to come back better and stronger.”
The apex industry body will take fresh stock of the situation just before the commencement of the festive season.