Executive Summary – Monthly Recap
Cannes Lions Festival announced that it’s going 100% digital for its second straight year, indicating that the light is there but still at the end of a long, very long tunnel. Global agencies reported their 2020 financial performance and, despite single-digit revenue drop and a painful decline in organic growth that led them to cut expenses and streamline operations, they all seem highly confident that recovery is just around the corner. Hey, COVID, hope is highly contagious, too. Some agencies – S4 Capital and Stagwell Group had a strong 2020, so not everyone is starting the year weakened. Conventional advertising and traditional comm are not where growth will come from, but eCommerce, experience, and digital. There is no greater evidence than reports that the combined trio Facebook, Google, and Amazon now account for 90% of all digital advertising spend in the US. What to expect in the foreseeable future? Well, Pulitzer Prize winner, David McCullough, said that there’s no such thing as a foreseeable future. We agree.
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Newsworthy Reports and Recent Developments
At AMS, we approach the agency management discipline as four distinct but complementary practice areas – Talent, Work, Financials, and Performance and Value – which is how we categorize the following developments:
Table of Contents
Talent……………. page 2
Work.………………………… page 5
Article……………………page 6
Financials…………………………. page 7
Performance and Value…………………………….. page 8
Agency Reviews and Roster Changes……………… page 10
Disclaimer: The AMS Monthly Industry Update is a summary and analysis of newsworthy agency/client developments picked up in recent trade-related publications and news media.
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