Volume 70 June 2023

Executive Summary

Busy. The advertising industry has been very busy redefining its value as a force of growth and responsible change. New agencies and offerings are emerging daily, many are restructuring, reorganizing to adapt to new capabilities fueled by MarTech and AI, two still burning topics for advertisers and agencies alike.  These trends are impacting talent, work, partnerships and the financial management of agency relationships. But are there signs of weakness ahead to be concerned about? Brian Wieser (Madison and Wall), “Economic Growth and Advertising: Downturn? What Downturn?,” makes a compelling case that there are strong correlations between advertising and economic activity (like GDP or personal consumption expenditures) but that despite the fear of economic recession, 2022 was a strong year for agencies. There might be softness in advertising during 2023 because of spending cuts in some areas, but it probably won’t be that significant, which is in line with what publicly traded agencies have been telling investors. Let’s dive in, shall we?

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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
Financials…………………………. page 10
Agency Reviews and Roster Changes……………… page 15

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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