The decision to move the event from Sun City to Margate, taken by an advisory committee comprising representatives from all sectors of the marketing communication industry, has caused some debate in the industry with commentators voicing concerns about accessibility and exclusivity as well as questioning Margate's infrastructure.
M-Net said in a statement, that although it shares some of these concerns, it has decided to support the industry by continuing to sponsor the event.
M Net CEO, Glen Marques, says: "With any kind of change, there is always concern. However, we know that The Loerie Awards 2005 Committee has done its homework and has anticipated the issues that the move to Margate would raise. We are, as always, committed to the advertising industry and the event, and will stand behind this decision."
Another key sponsor, Media24, is also expected to take its seat, alongside M-Net, according to whispers at a Media24 function this week.
The decision to move Loeries to Margate has been the hottest topic of discussion at every industry event in the past week since the announcement, and views are quite negative overall.
"They are mad," is the comment of some industry insiders, who hold the view that Loeries will continue to loose money, particularly with what is perceived as a desperate choice of venue.
Today's announcement by The Loerie Awards main sponsor is a huge vote of confidence in the new committee, which for the first time comprises a spread of creative industry representation.
It also indicates that The Loerie Awards 2005 committee should be given a fair chance to prove their worth - the Margate decision was not taken lightly and was a considered and informed decision, according to The Loerie Awards CEO Andrew Human.
We all hope that 'Margate' does not turn into a decision with 'Watergate' ramifications, and that The Loeries Awards committee manages to pull this off. What seems crazy, will be lauded as inspirational if they pull it off - and really, it's up to the creative industry as to whether it does work.
The media owners are putting their money behind the industry. It's now time for the industry to come to the party.
