Executive Summary – Monthly Recap
As we get bombarded with news and data, it may be time for a little perspective so we can tease the events that truly matter. I noticed a few interesting trends in the past few weeks.
First, the concept of “responsible advertising” is now a reality for advertisers and agencies alike and has significant long-term operational impact on how we work and what/how we produce. It ranges from the continued drive to seek greater diversity and inclusion, environmental agendas to more controversial topics like gun advertising or responsible social media practices like Ogilvy UK’s decision to not work with influencers that retouch their bodies or faces. I take great satisfaction as I am sure you do to see that we are evolving our practices and industry in a very healthy way.
Secondly, despite some global economic uncertainty and rise of inflation, I was glad to see that the agency world is continuing their focus on driving growth. As expected, financial strength, effective and rigorous expense management is an ongoing priority. Agencies are embracing flexible business models to address macro uncertainty. As talent scarcity continues, they are desperately exploring new ways to attract and retain people. They are fighting a good fight. And advertisers ultimately benefit.
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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 and Performance, Financials, and Agency Reviews and Roster Changes – which is how we categorize the following developments.
Table of Contents
Talent……………. page 2
Work and Performance………………… page 6
Article……………………page 5, 8
Financials…………………………. page 9
Agency Reviews and Roster Changes……………… page 12
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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