Volume 72 September 2023

Executive Summary

“I’m a Barbie girl, in the Barbie world…”
Welcome to Barbie Land! Greta Gerwig’s movie about the Mattel icon has been as much of a success in theaters as it has been in co-brand marketing. That was the topic of many conversations in our industry after such a brilliant launch. The blockbuster finished its opening week with over $700 million in worldwide ticket sales, the biggest week in history for a Warner Bros. movie. For marketers, it was also a dream machine with countless brand partnerships. Meanwhile, in the less flamboyant world of Wall Street, top advertising giants had to lower their revenue projections for the full year as tech companies cut expenses and the impact of inflation pushed many brand advertisers to be more cautious with marketing spend. A slowing and uncertain economy that’s forcing companies to manage budgets more conservatively is a reality that agencies cannot escape. The SAG-AFTRA strike, intended to pressure studios to revisit terms associated with residual pay in streaming and the use of AI in TV and filmmaking, also exposed growing concerns and disparities in the entertainment and media sector. AI applications are spreading, but so are concerns about legal and ethical use of the technology. No matter how rosy we want to see the advertising world, we don’t live in the colorful and seemingly perfect world of Barbie Land.

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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 7
Financials…………………………. page 10
Agency Reviews and Roster Changes……………… page 14

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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