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Huh? It’s still happening. Most if not all global agency networks still basically give creative away for free and make profit from the media side.
It’s why holding cos are itching to replace creative dept ms with AI as soon as they can; regardless whether AI is up to snuff. In the eyes of c-suites, AI just needs to be good enough for them to do it.
@ACD3 they often are. I’ve worked a small handful of retainer clients in last 15 years that had both creative and media within same holding company. Majority were separate. E.G. creative at Omnicom media at WPP.
No because more often than not, media not handled by same company as creative
I said not. Read above and I know because I’ve been around the industry almost that long. Not quite but close
A lot of the companies that actually own the media have in-house agencies to do exactly this (Amazon, NBC, NYT, etc). But it’s not as good for creative as you might imagine since they usually bundle production with media and creative for a set price, so they want to produce things as cheaply as possible.
Yes, they could. But, clients won’t agree to that, again. I just heard about this recently.
Basically, at that time, folks on Madison Avenue were flying high. Profit margins were insane. Because when that fee model was introduced, the cost of things like TV and radio advertising were very low. As monetization for them was relatively new and proliferation was low. But, as more people started to own TVs and broadcasters started to charge more for a placement, the costs of the small percentage started to skyrocket.
In fact, why it changed is because clients saw what was happening, banded together, and said they weren’t going to pay that fee anymore. They saw middle management living better than their C-Suite and got annoyed/jealous.
So, yes, it’d be great for us. But, clients won’t agree to it.
What do you think "principal media buying" is?
The retainer model is moving to AI companies.
Agencies that don’t scale down will shut down.
Timesheets? Dead. Hourly billing can’t compete with AI-driven speed. Soon there’ll be a line of ex-CCOs, polishing their Cannes Lions for campaigns they never touched, wondering why AI won’t return their calls.
I truly hope this take will age like milk.
(To be clear, I don’t think AI is going away, but the hype and hyperbole might, as it pertains to creative)