Industry Updates

INDUSTRY UPDATE VOLUME 55

Keshia Carlson

5/24/2021

Executive Summary – Monthly Recap

“SOS! It’s iOS 14.5!” The ad world is constantly changing. Apple’s enforcement of its app tracking transparency (ATT) with the launch of iOS 14.5 is requiring the world of advertising to change practices as the tech company emphasizes privacy and consumer choice. How is the agency world coping with COVID and constant disruption? Holding companies recovered in Q1, with positive single-digit organic growth—with a few unfortunate exceptions—and some much-needed revenue and net income growth, fueled by the economic recovery underway and a continued massive shift in client investment towards digital, ecommerce and loyalty, and direct-to-consumer activities. If you compare how agencies are doing financially to firms like digital natives Facebook and Alphabet (claiming revenue growth between 46% and 49% respectively), the world of advertising seems to favor and mostly benefit the largest digital media owners. They are getting bigger and stronger. The rest of 2021 seems very promising for the industry, with significant growth and innovation already in play.

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Newsworthy Reports and Recent Developments

At AMS, we approach the agency management discipline as four distinct but complementary practice areas – Talent, Work and Performance, Financials, and Agency Reviews and Roster Changes – which is how we categorize the following developments.

Table of Contents

Talent……………. page 2

Work and Performance………………… page 7

Article……………………page 6

Financials…………………………. page 10

Agency Reviews and Roster Changes……………… page 13

Disclaimer: The AMS Monthly Industry Update is a summary and analysis of newsworthy agency/client developments picked up in recent trade-related publications and news media.

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