Why Agencies Have Become Sweatshops & Are Putting Themselves Out Of Business
Think the advertising industry is full of innovative ideas and future potential? Think again.
According to Michael Farmer, CEO of Farmer & Company and 25-year veteran advertising consultant, what was “once one of the most fulfilling and glamorous of industries has become a grim sweatshop for the people who do the work.”
Yikes.
Thus begins Madison Avenue Manslaughter, Farmer’s new book that outlines—in unrelenting, painstaking detail—the decline of the advertising industry and the tone-deaf agency executives that are leading their own businesses to the chopping block.
Last week, Farmer and I were on a panel for Mediapost, discussing how fragile agency-client relationships have become. It was one of the most candid discussions I’ve been a part of. It’s not often people shoot straight about the reality that exists behind the well-groomed facade of Madison Avenue.
So how did this happen?
Read the full article from Forbes here.
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It's got some strong views, but this article from Forbes contributor Keenan Beasly raises some interesting points for the future of agencies. It's not complete havoc, but there are some ways agencies in Australia can try and futureproof themselves. It's well worth a read.