As reported in sites such as MediaPost, Wall Street is downgrading the stocks of some major Madison Avenue agency holding companies. What does this mean for the industry as a whole?
At Domus we see huge possibilities all around us. Large agencies are typically bloated with significant overhead, which in turn translates to higher costs for their clients. A smaller agency, if structured and managed well, can be more nimble in responding to the shifts in the marketplace. As such, companies pulling back from the large agencies are prime opportunities for these smaller, more agile ones.
Our new business pipeline is currently larger than it has been in several years. And I would bet that other dynamic, nimble agencies are also seeing similar opportunities.