The digital revolution is about much more than a new medium. It is about the beginning of the end of advertising and media as we have known it. Why? Because that’s what consumers and marketers want.
– Dave Morgan, CEO of Tacoda, AdAge 7/10/06
AdAge is among the most popular Advertising, Media and Marketing Publications so the above statement should be a wake-up-call for anyone in the business. Large holding companies like WPP, InterPublic Group, Omnicom, etc. will be forced to adapt the business model of their lucrative yet increasingly irrelevent media and advertising agencies. Morgan, like Jeff Jarvis and Richard Edelman, criticizes Sir Martin Sorrell (CEO of WPP) for his seemingly relaxed approach to future of the business.
In Sorrell’s defense, one can see why the CEO of a global holding company must be very diplomatic and cautious on this subject. However, other agencies have been aggressively embracing new media and change. For example, IPG’s partnership with Facebook.com, Publicis’ new agency Denuo, etc. One might also argue that in some cases, executive egos may hinder the necessary and natural evolution of a company, and in this case, an industry.
This AdAge article is significant. For the sake of mid-level agency folk, I hope you read the trades – it is available in a print form too.
Related Articles: The End of The Big Advertising Agency
[tags] Dave Morgan, Tacoda, AdAge, WPP, InterPublic Group, Denuo, marketing.fm, advertising, media, digital revolution [/tags]