In this week’s Fast 10, our very own Greg ‘Sparrow’ Grahams sat down with Stephen Leeds, CEO, The Media Store. Leeds has over two decades of sales and management experience in advertising and media, managing teams, developing strategy, and driving sales outcomes across Network 10, Australian Radio Network, and The Media Store.
Leeds is a leader with a strong ethos of care for his teams, clients, and the work. He is known for his motivational and uplifting approach to his team, all while delivering the company’s financial objectives. Leeds brings a purposeful vision, strategy, and values to the table that differentiate The Media Store from other agencies in the market.
1. You’ve had an outstanding career, from AIS /George Patts to Network 10, and fast forward to CEO of The Media Store. If you had to pick only one, what would be your career highlight so far?
Stephen Leeds: Apart from the flattery of Sparrow trying to recruit me to Mindshare circa 1998, my career highlight was the day that, together with Jacquie Alley, we took over the reins of The Media Store – 1 July 2021 – full accountability with nowhere to hide – my destiny was truly in my own hands.
2. I love your commitment to building a great indie founded on care for each other, for your clients, and the work. Plus, the agency has been recognised by the AFR as Best Places to Work/ B&T Awards for People & Culture. How do you ensure the commitment to great culture is embedded in your DNA every day?
SL: Firstly, one must lead from the front. I bring a passion and care to our team, our clients, and the industry, and ask our team to do the same. Jacquie and I have a generosity of spirit that is genuine; we love and care for our people and want to understand them. From there, we have a clear and concise business plan that includes our purpose, strategy, vision, and values. We share it with all staff during onboarding, and we live it through our ‘People Management Plans’, through our town hall meetings, and through our reward and recognition programs. We show up every day!
3. TMS has a great balance of seasoned, experienced professionals and young, smart talent. How do you balance the people to get the best outcomes for clients?
SL: A commitment to finding the best people who align with our values, and who have an appreciation of why we are in business – our clients! We don’t have quotas; we simply seek out those who align culturally, and that usually discounts a few. Our interview process is rigorous, and it’s only those who demonstrate curiosity, passion, and integrity who get through. We love talent with wisdom and experience, and we’re prepared to reward them fairly. It is a proposition that we think is a differentiator for us. And because we care for the future of the industry, we ask them to mentor our emerging talent, who have a preparedness to learn, especially when it comes to customer service, which is something we put a lot of value on.
4. As a young boy, what did you want to be when you grew up?
SL: I wanted to emulate my father, and I interpreted his job as a “businessman”, who was impeccably dressed in Henry Bucks suits, worked with global brands such as McDonald’s, Ford and Cadbury Schweppes, was entertained by all the media, including personalities such as the great Kerry Packer, with the long lunch the norm, and had a great social life being hosted at the Logies, Australian Open, the corporate box at the AFL and many overseas conferences (which I later learnt was industry talk for ‘junket’). If this was what a “businessman” was, I wanted it!
5. Over your career, you have seen cycles of agency momentum and various degrees of new business success. How do you bounce back, be resilient, and have a positive outlook?
SL: Partly genetics, partly the influence of great coaches and mentors, and partly being kept grounded by my wife and support network, who remind me that I have no choice – the world keeps moving on, so I better keep moving with it (and try to stay ahead of it).
6. As an industry, what’s one thing we can do to make us all better?
SL: To retain the “veterans” (like me) who can pass on to the next generation what technology can’t.
Tech can feel like it reigns supreme, but it can only be a tool; it doesn’t replace judgment, intuition, and human connection. Veterans bring with them people skills – skills like negotiation, empathy, storytelling, and relationship building – which are foundations of trust between agencies, clients, and partners. These aren’t things you can automate or learn from a dashboard; they’re passed on through mentorship, observations, and lived experience.
7. The market is challenging for client growth; indies seem to be faring better than most. What’s your perspective?
SL: The barrier to entry has never been lower. Since deregulation back in the ‘90s, the requirements of accreditation have been removed (previously, an agency needed $1.25 million in current assets versus current liabilities). Software and tech have become more accessible with more third-party partnerships. The impact of hybrid working since COVID has even meant for many that their overhead ratios are more manageable. Negotiations, too, have changed, with the old consortium trading deals being replaced by more client-led deals. All this means that indie agencies are more competitive based on ingenuity and client service and are now a viable option for even the most sophisticated of clients.
8. It’s obvious you are still passionate about the media business and love what you do. How do you mentor, coach, or pass on those words of wisdom to the next generation?
SL: I used to think leadership was like coaching a sporting team – town hall messaging, one-to-many communication, treat everyone the same, and motivate with passion. However, that doesn’t cut it anymore, so I now hold CEO one-on-one meetings twice a year with every staff member, and I listen more than I talk. I give wisdom where I think it can help, but it’s certainly more of a true coaching style now. Although I still find a way to fit the hype presentation in at the Christmas party, haha.
9. What’s one thing that’s not on your LinkedIn profile?
SL: My LinkedIn profile shows my achievements and progression through my career, which is all positive. What it doesn’t show is my failures along the way, which are the things that have taught me the most and were probably the most valuable.
10. Your father is an industry legend. What do you say to your kids if they want to follow in your footsteps?
SL: I think the motivation for new entrants has changed – certainly, the Henry Bucks suits, corporate hospitality, long lunches and junkets are a thing of the past. However, there will always be a need for great people, and so, not dissimilar to my original motivations, if you love business, achieving real outcomes, and have a love for consumerism and brands, then go for it!
