Covid has required many agencies to change the way adverts are conceived, managed and filmed. However, the need to overhaul established practices has also helped agencies rediscover their creative spark and build more robust business models.
So says a paper from Moore Global, the accounting and advisory group, that describes how advertising businesses have made greater use of technology, remote filming, working in 'bubble' groups and other practices, to keep producing ads safely.
It argues that after a significant mid-year dip in revenues, many agencies ended 2020 in reasonable financial shape. Savings on travel and freelance costs are likely to carry through to 2021, helping to maintain improved margins.
The key contributors on the paper were Graham Tyler (pictured), London, UK, Global Media Leader Partner, Moore Kingston Smith; Esther Carder, London, UK, Partner, Moore Kingston Smith; Matias Tejero, Buenos Aires, Argentina, CEO, Moore Tejero; Jenn McCabe, California, USA, Partner, Armanino.
Download the paper from Moore Global.