GroupM’s chief executive for North America has admitted that the world’s biggest media buying company has allowed itself to become commoditized, a problem compounded by what he described as an inability to sell an offer of growth into the C-suite.
Tim Castree, who was bumped up to the top job from Wavemaker in December, was speaking frankly in discussion with Michael Farmer, the author of Madison Avenue Manslaughter.
The two discussed the complexities that are leading clients to shake up agency models and, ultimately, slash marketing spend. They concluded that brands’ slow growth following the post-20th century boom had pressed pause of the free reign of chief marketing officers, who are now at the mercy of procurement and driven by bonuses.
Please read the full article in The Drum here.