Half of all independent agencies will close in the next seven years warns Chris Savage
Around half of all independent agencies will disappear in the next seven years unless the industry changes quickly, a former STW Communications executive has warned.
Chris Savage speaking at SAGE conference on October 12.
Speaking at the Secrets of Agency Excellence conference (SAGE) yesterday, Chris Savage echoed the prediction he made regarding the PR industry at CommsCon earlier this year.
“I don’t know what you do as well as I know the PR industry, but I know it pretty well. I ran many businesses in STW over many years,” the business growth specialist said.
Perspective: how many closed in the last seven years?
This is true, especially in the experiential/event marketing space. The old style agencies from the early and mid 20th century in particular, have refused to evolve. They lumber on thinking their ‘brand’ and hiring some young faces is enough, while smarter more nimble players outfox them at every turn. Stand by for some long established agency names to fall in the coming year.