Sir Martin Sorrell and Brian Whipple spoke on the issues faced by the ad industry at an activation at Cannes Lions.
Speaking at The Drum Arms’ activation at the Cannes Lions festival, Sir Martin Sorrell, executive chairman at S4 Capital and Brian Whipple, CEO at Accenture Interactive noted the need for the ad industry to change to stay relevant. Sorrell observed that the lower growth at agencies is indicative of their services having been commoditised to an extent.
Whipple cautioned by providing that 41% of the companies part of the S&P 500 almost two decades ago, no longer exist. He spoke about the ad industry carrying a notion about not needing to undergo such a level of change.
Sorrell also made a recommendation of embracing purpose as a long-term goal but was wary of short-term thinking. He supported this by observing that a CEO’s tenure currently tends to span five years.
[5 minute read]