Media Agencies Fold "Futures" Group Back Into Reality
Because, when it comes down to it, media agencies make their money based on the size of the media budget they manage and not on consulting fees, media shops are now pulling back the reigns on the segment of their business that explore and forecast new media possibilities. Of course, they're not folding them completely leading clients to believe they are no longer in touch with the cutting edge, but are re-spinning them into the main shop and explaining it, as MediaCom co-CEO Jeffrey Malmad does by saying, "The future is now."
In a sense, it's a smart move since the agency business has never been able to get clients to pony up much money for futuristic, theoretical discussions when they could be spending their money in media getting the message out. It's also a sad move as well since innovation and breaking from the standard molds of advertising has been excruciatingly difficult to do for both agencies and advertisers. More future-think is needed. Not less.