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On this week’s #MediaSnack Tom and David look at the sudden wave of CEOs departing UK media agencies. Four big names have left media leadership positions in one week.
They ask what’s causing the rush to depart/escape/replace (delete as appropriate) and look at why churn levels among agency CEOs are increasing. The data shows average tenures for agency CEOs are decreasing in both London and New York.
Tom and David argue it’s a good time of year for change as it allows the new leadership to impact the next calendar year’s planning.
They also consider why the CEO role at media agencies is so tough and ask what skills might be required for the media agency leadership of the future.
On this week’s Good Week/Bad Week, they argue that it’s a good week for the UK media industry (despite the leadership losses) as two of the UK’s biggest advertisers launch reviews of their media activity: The UK Government’s £150m media investment (currently with Dentsu Aegis in the UK) and Sky’s £400m media investment (currently with MediaCom in the UK).
Both will stress test agency capability in Q1 2018 in time for the new agency bosses to prove their mettle. Both pitches have been launched with clear messages of change, demanding greater accountability from media agencies.
