FirmDecisions in the press: Challenges facing CFOs in the benefit-driven advertising market
Stephen Broderick, CEO, FirmDecisions view on the challenges CFOs are facing in the benefit-driven advertising market, has been featured in Accountancy Age.
Stephen highlights that the digital media ecosystem is getting increasingly complex and requires significant investment to stay competitive. Both procurement and finance departments in advertiser companies have led to a downward pressure on the fees that brands pay to agencies, particularly to cover staff overheads. Many bigger brands have also used global pitches to drive cost efficiencies in their agency relationships.
Stephen stressed that despite these changes, profits at agency holding companies have remained robust. Five large agency networks dominate the market, and together they account for more than 90% of billings.
To read the article in full on Accountancy Age website, please click here.
First featured 11/04/2019.