Time For A Change
Edward L. Bond Jr.
It is TIME FOR A CHANGE. Time for a number of changes in the advertising agency business. And why not? Everything else in the world is changing – from the people in it to the institutions they have created. Other businesses are changing. Proliferation and diversification, technological advances, increased population and the spreading of wealth are all leaving their mark on the way that business is conducted today. The advertising business is no different. Of course, there has always been change, but it has never been as rapid as it is now.
One of the prime reasons for us in the agency business to anticipate a degree of change, is the basic reason we're in business at all – to make a profit. Of member agencies who reported their profits to the 4A's, the agencies billing over $40 million showed that on the average, their profit margins in 1967 were the lowest of any of the preceding 5 years. The reasons for lowered profits are many, and not the least of them is the increase in our costs. The cost of good talent has skyrocketed, a matter of supply and demand.