So what are everyone's thoughts around the holding companies getting more and more pressure from clients to reduce costs, increased mergers, etc? Where do you see the industry heading in 10 years?

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Current situation on my account: just renewed the contract, but some dumbass in commercial agreed to a 25% fee cut. Had to cut staff to break even, and now we can't keep up with the client workload. Fucked some things up as can be expected when you cut about 35% of the staff, so now the client has put the business out to pitch right after renewal. Neither the commercial team nor the client seem to understand that 100% of the issue is tied to the forced fee cut. Lather, rinse, repeat for the next 10 years and the Pendulum absolutely has to swing the other way... Right? Please somebody tell me that the pendulum is going to swing the other way

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Holding companies will continue to consolidate agencies. Headline the other day said WPP is being pressured to merge its legacy agencies. And/or HCs will become one agency brand I.e. Publicis and Havas. I also expect mergers at holding company level. And a possible sell off of agencies for others. In short a great consolidation, divestment and self immolation. Meanwhile, indie or small shops will continue to pop up taking more and business from the juggernauts. A few will rise to become big, dumb and slow themselves. And there will be legacy agencies left as well to handle giant global accounts. Let's not forget huge piles of AOR money being swept from the table as clients continue to build robust inhouse offerings. Then again, some clients will see their folly and go back to AOR model. In short, things will look quite different in 10 years while ending up being pretty much the same day to day.

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We're doomed

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Freelance1 I can smell your nihilism, and it's intoxicating.

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Fewer agencies. Fewer raises. Lower pay and more hours overall. Or more freelance employment overall as it saves them healthcare fees.

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@freelance1 thank you. People keep saying that the industry is "doomed" (looking at this thread and in general what I hear) because there's consolidations and news shops popping up but this has always been the case. It's cyclical. The top agencies will likely be very different in 10 years, but there will still be "top big agencies" and smaller agencies popping up.

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I don't think it does but maybe that's what target and Walmart are hoping re: Amazon....

O&M who knows you might have a merger coming up - it could be exciting :/

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