Now just hours away from welcoming in the New Year, it’s time to say goodbye to 2024, a year that was tougher than many expected – and hello to 2025, a new year like many others that offers a promise of new ideas and new opportunities.
See the Strata-gee 2025 Happy New Year message…
Every year post-2021, the period after the “end” of COVID-19 (although it never really ended), many in our industry kept looking for signs of business stability. It turns out that stability has been…and remains… elusive – as the many company consolidations, reported drops in audio sales, and the declining performance of public companies make clear.
But 2024 added some challenges of its own. First, it was a presidential election year, and this election was hyper-partisan with over-heated rhetoric and even some acts of violence. Intense partisan political bickering causes consumers to feel increasingly uncertain and anxious – which leads to consumers “sitting on their hands” (i.e. cutting their spending) and waiting out the election cycle.
An Improving, If Challenging, Economy
Second, the economy improved throughout the year, although not in a linear fashion – but rather in fits and starts. Most notably, while inflation had declined substantially throughout the year, consumer surveys kept reporting Americans felt the economy was poor. Feeding into that general dissatisfaction were instances where the price of certain staples – eggs, for example – remained high…undermining the feeling of improvement in combating inflation elsewhere. However, the advancing Bird Flu was also an under-reported influence on pricing (particularly eggs).
Big Tech has artificial intelligence (AI) continuing to drive its success, although there is growing uncertainty as to whether the hype surrounding AI may be overblown. Nonetheless, in our corner of the Tech world, AI has yet to provide the same juice to drive our business results.
Cause for Optimism
I believe that there remains a cause for optimism in 2025. The election is over and consumers have stopped being assailed by that harsh political rhetoric. With a new administration comes new hope for continued economic improvement and a re-engagement of consumer spending.
In any event, all that can be discussed and debated later. For now, join friends and family in welcoming in the New Year.
And THANK YOU for continuing to make Strata-gee part of your life!
HAVE A SAFE AND HAPPY NEW YEAR!!
Ted
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