2024 is set to be another big year for large media agencies with many major global and UK accounts set to be reviewed by advertisers.

But only one in 10 (11%) major multinational brands believe the current agency model fits their future needs.

Even worse than that, one in four big brand marketers believe the current agency model is “unfit for future purpose”.

Those are the tough findings from the World Federation of Advertisers and the consultancy MediaSense, whose Future of Media Agency Models report in October called for a new breed of agile, specialist, tech-focussed agencies to add value to a more centralised model”. 

So what have we learned since then? What has been the reaction to the report and what should needs to improve in 2024 between media agencies and the brand advertisers that employ them?

Joining Omar Oakes to talk about why so many marketers seem to have a problem with the way they hire and work with agencies is Ryan Kangisser, director and practice lead, models, at MediaSense.

The study found that while nearly all (92%) of the brands surveyed believe speed and agility are important, just 31% are satisfied with how their agency delivers in this area, creating a gap of 61 percentage points.”

This episode was edited by our production partner Trisonic.

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