- Indexfinger, the independent Web company, launched two years ago by the original interactive team at Lowe Howard-Spink, has closed its doors, having failed to win enough business to continue.
The move comes only a week after Lowes itself closed Lowe Digital, the new-media unit the agency set up by the agency following the decision of Mark Dickinson and Robert Hamilton to leave to form Indexfinger. Lowe Digital is to be relaunched shortly as a strategic consultancy.
Rumours of the Indexfinger closure leaked out earlier this week as the company began contacting its clients. Its main clients were Sears, PPL, Dollond & Aitchison and Mills & Allen.
The company is the latest in a string of casualties in the new media industry. As well Lowe Digital, AMX has had to restructure as has Webmedia, while the New Media Factory and the consultancy, Upstart, have closed down.
The two Indexfinger partners are set to go their separate ways, with Dickinson planning to look for a full-time job and Hamilton to go freelance.
According to Dickinson: "We gave it two years and we have kept our head above water, but we have never been able to expand the company in the way that we wanted. The whole market is going through a major shake up and we are one of the casualties. Those who are genuinely making a profit and have deep pockets may well survive."
He added: "We have only really ever treaded water. I think the business requires serious resources and small creative companies like ourselves are going to find it very difficult. It is not simply about human resources, but technology investments also. I am disappointed, yes, but I don't think we are the last. I think we will see more mergers, consolidations and closures."