Avenue Edit is the latest unfortunate victim of an industry undergoing such crushing change that only those with a high tolerance for challenge and reinvention seem to survive.
In eight years, 10 old-line post houses have disappeared. Most all relied on agency commercial business during a time when the advertising industry was in turmoil and transition.
Two post houses disappeared in 2000. Jack Tohtz’ Skyview, the first of the high-rise luxury facilities, was the first shocker in 2000. An expensive lease deal was part of its demise. So was a sneaky employee who was caught attempting to sell Tohtz out to an investment group.
Pioneering IPA Scott Jacobs’ 20-year post house, had diverse clients – doc makers, TV shows, corporate and spot – but the high cost of keeping up with ever-evolving equipment got to be too much. He closed, in effect, by merging IPA’s key employees and business with Post Effects that fall.
It was business as usual until September, 2005, when Maggie Magee’s Superior Street’s declared bankruptcy. Although the company had consolidated from four to three floors, the landlord held the company hostage to the lease on the unoccupied space.
A series of closing followed in quick succession. Swell, the oldest post house at 30, succumbed in July, 2006. Owner Mike Topel cited as factors, tight budgets and shrinking margins, internal dilemmas and a $1 million non-negotiable lease.
