Mergers Reflect A Changing Media Eco-System
The market, as we know it, is changing. While externally we are seeing massive shifts, internally too we are witnessing a time of amazing change. In the past two weeks we have seen news of two massive mergers within our group that reflect this wider market dynamic.
- The merger between Maxus and MEC (http://www.campaignlive.co.uk/article/wpp-merge-maxus-mec/1435286 )
- The merger between Mindshare’s FAST & Ogilvy’s NEO http://www.campaignlive.co.uk/article/wpp-folds-neoogilvy-mindshare/1436802
These mergers reflect WPP chief executive Sir Martin Sorrell’s desire to make the group, and our offering “less complicated” for our existing and prospective clients. They also reflect what he calls a “watershed moment for media shops”.
Sir Martin Sorrell believes that media agencies are facing the single biggest structural shift since the separation from creative agencies.
Our own agency, Mindshare, was formed in 1997 when the media departments of J Walter Thompson and Ogilvy and Mather merged to form a standalone agency. That merger, seen as a transformational move that shook up the Adland, now, some twenty short years later, reflects how most clients see the advertising eco-system: media on one side, creative on the other.
Out of that single merger now stands an organisation that employs over 7,000 people across 116 offices in over 86 countries. Even within our own office we remain in a constant state of evolution. We are constantly challenging our own norms and pushing the boundaries, never standing still, always striving for better. This reflects our adaptive DNA.
If it seems like the world was fixed, well expect that to change very quickly. We live and are part of an adaptive world. A world where Amazon buys Wholefoods (http://www.mindshareworld.com/news/pov-amazon-buys-whole-foods-market) and the general consumer does not bat an eyelid. We, marketers, should always strive to be the first to know and understand this evolution.
Expect more mergers and more change as agencies reform and rebuild to ensure that the next twenty years mirror what has gone before. The times they are a changing….and that is no bad thing.