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Chief
There's no room for big ideas and clients willing to take risks. Sad, but we're seeing how hollow most of it is.
It’s no different than travel agents. We used to rely on them to ensure a positive vacation experience. Then technology evolved and we no longer need their services to ensure our desired output.
The ship won’t sink; it sailed away and was replaced with a bunch of cute unicorn and pizza shaped pool floaties.
The media landscape has changed from mass media to micro-targeting. This has made media, and the creative within it, waaaayyyy less valuable.
As a result, client don’t see the value in paying as much for creating the work or in the work itself. To keep profits high, the only solution has been to work fewer employees harder. Sure there will always be the few dangling carrot pure creative agencies like W+K but they the exception anymore.
Advertising agencies are slowly being squeezed to death.
We feel it too
It's changing and rapidly but it won't "sink"
It’s not sinking over say, it’s just not the only option anymore. Brands are building in-house capabilities. Big “creative shops” are too old and slow so lots of performance shops are popping up. Influencers. Freelancers. The big agency model isn’t applicable these days.
People are saying it since at least 2005.
Chief
The mass layoffs really hurt their reputation.