“You see,” he said, “The people at these companies – these ad agencies – that have built them through the 50s and 60s and 70s, they want to retire, and they own more stock in the companies than the companies can afford to pay them. They have to sell.” And the holding companies, of course, will have to keep buying.”
A very interesting and telling quote. One that makes me hopeful of the opportunity for growth of new and different agencies. Are we seeing the changing of the old guard for new, younger and more flexible companies? Social Media companies didn’t exist 5 years ago. Nowadays there seem to be new ones popping up monthly.
I entered the Marcomm field in the late 90’s simply because I was convinced that internet would change everything.. so far this belief is playing out all over the economy. Not just in the field of marketing but in manufacturing, services and all manners of businesses. The agencies who at one time acted as the gate keepers between business and customers are being pushed out of the way as consumers start to get a feel for their true power.
To read the context of the quote visit the Burstmedia blog here.