I finished reading this book more than a month back and what's the word kids now use? I am now WOKE.
All kidding aside, this is a must read book for anyone in the advertising industry!
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| Frenemies by Ken Auletta |
The book takes a deep dive into the business of advertising - how ad agencies used to make money during the Mad Men days and how ad agencies make money now.
Many pages in the book are dedicated to the specific branch of advertising that I work in - the media agencies that do media planning and buying. Not a lot of people know what a media agency is. Many people have heard about the advertising agencies who make ads, but most people who don't work in marketing don't know that there is another agency that selects which channels and which media vendors to buy .
The title of the book lends itself well to the changes that are happening in the industry today. With the lines blurring between media owners, tech companies, ad agencies, media agencies, management consultants, and auditors to name a few, many stakeholders work hand in hand with partners who are likely looking to take a little bit more from their piece of the pie in the future.
Since this book was written and published a few of the main characters in the book have moved on from their roles - for example, Sir Martin Sorrell retired as head of WPP in April 2018.
Still, this book is relevant and timely and provides a lot of insights into the shifts happening in the industry.