Insight into key changes in the media industry was revealed at the Festival of Media Global in Montreux. The Festival constructed an ‘Agency Jeopardy’ quiz format to discuss the answers of the exclusive survey.
The ‘participants’ included global heads of eight agencies – Mainardo de Nardis, CEO and Chairman, OMD Worldwide; Jack Klues, CEO, VivaKi; Stephen Allen, Chairman and CEO, MediaCom Worldwide; Maria Luisa Francoli, CEO, MPG Worldwide; Mauricio Sabogal, President – World Markets, Mediabrands; Annie Rickard, President, Posterscope; Steve King ZenithOptimedia and Alain Damond, MD – G14 Markets, Initiative.
The study showed that 80 per cent of the brand CMOs questioned agreed that brands are now publishers, placing emphasis on how owning, creating and sharing content is at the heart of global brand strategies.
Ninety four per cent of respondents said that print media has a future. The gathered global media agency heads agreed that this was only on the basis that print media is viewed more as ‘content companies’ than purely paper publishers. However, Rickard claimed that the disappearance of print would be ‘sooner than we think’ while Damond countered that many cited the ‘death of TV’ a few years back which was far from true.
Eighty five per cent of respondents claimed they would double their spend on mobile in the next two years but only 20 per cent think that media agencies are as strong in digital as they are in traditional media. On a more positive note, 70 per cent felt that the quality of ideas coming out of media agencies is better than five years ago.
A number of threats were identified including a lack of transparency due to trading desks (72 per cent) and lack of integrated solutions by holding companies (70 per cent), however the respondents were split 50:50 on the threat of Google to media-buying and also on whether procurement had placed too strong a focus on cost.
Drawing the research to a conclusion, Festival Founder Charlie Crowe revealed that a vast majority of respondents (66 per cent) did not feel that ‘one media agency is like another’. The global CEOs cited people, culture, entrepreneurship, leadership and ideas as reasons for this.
Given the quiz format, the session had a ‘winner’, which was Steve King of ZenithOptimedia.