“MEDIA has selected Interpublic’s Mediabrands as its “agency holding company of the year” – for the second consecutive year – but a more apt honor might be the “anti-holding company of the year.” That’s because, with the exception of certain centralized resources and financial disciplines, Mediabrands hasn’t been operating much like traditional holding company, which typically is all about gaining operating efficiencies while aggregating market share. Yes, Mediabrands does that too, but what differentiates the organization from the rest of Madison Avenue is the entrepreneurial spirit that pervades everything it does. In effect, it operates more like a ventures group responsible for fueling new ideas, businesses and business models. It’s a smart, pragmatic approach, because it recognizes two important realities about the media services marketplace: that there are a diverse array of clients searching for solutions that reflect their specific business needs; and that the marketplace is evolving so rapidly that the kinds of media and marketing services that dominate today may not necessarily be the ones that succeed in the future.”
Read full article including details about the IPG Media Lab’s impact on Mediabrands’ science-based shift here.
