Tobaccowala: Agency model broken
Geoffrey PrecourtWarc
The reason why advertising agencies have been slow to react to changes in marketing – and why management consultancies, media companies and high-tech firms are poised to jump in and replace them – can be summed up in four words.
"There are no cows," Rishad Tobaccowala, Publicis Groupe's Chief Strategist, boldly exclaimed to an audience at the 4A's (American Association of Advertising Agencies) 2016 Transformation conference.
"The traditional advertising business," he explained in greater detail, "basically was built around the world with a few television channels, a few magazines [and] lots of newspapers."...