Management at Global have cancelled the company’s annual staff party and awards evening for this year after the result of the EU Referendum.
Stephen Miron, Ashley Tabor, Richard Park and Charles Allen wrote to staff last week explaining they don’t want to spend the usual large amount of money on it in case revenue is down after the Brexit.
They say they’ve planned various scenarios to ensure they are well prepared for any potential slowdown in revenue, and that Global would not be able to justify the spend in a challenging revenue environment.
The four directors confirm the effect on the advertising market won’t be as bad a some are predicting, but they are being prudent for the time being. The inaugural Globals were in March 2015 in which Rita Ora played live, and Toby Anstis won best networked show.
They finish the internal memo, seen by RadioToday, explaining the Globals will return, just not this financial year.