Rishad Tobaccowala has a dire prediction for adherents to the traditional advertising playbook.
“I believe that our industry is in a long-term secular decline,” he warned at the 2017 Strategy Festival, an event organized by the 4A’s (American Association of Advertising Agencies).
More specifically, Tobaccowala suggested, rapid developments in digital technology and consumer behavior threaten to make this concept, as it has characteristically been understood, a redundant part of the brand-building lexicon. “If we define our industry as ‘advertising’, we are in a long-term secular decline, which is about to get much faster that anybody expects,” he said.
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