Business

Highlighting the contributions of creative talent to social and economic progress, the Inter-American Development Bank today launched the e-book “Orange Economy: Innovations you may not know were from Latin America and the Caribbean”.

After numerous delays to its planned initial public offering, Univision Communications’ owners are reportedly considering an alternate exit strategy—an outright sale of the company.

Last week saw an interesting piece by Mindshare’s Global CEO Nick Emery published in Campaign and widely circulated on social media.  It generated much praise from beyond GroupM and WPP.  Andrew Stephens from the independent agency Goodstuff along with your humble correspondent were amongst many tweeting their appreciation of an insightful look at the many challenges facing media agencies and the need for new operating models.  Here are two key thoughts behind Nick’s piece.

In a recent interview with Advertiser Perceptions, an organization that provides data-driven intelligence to marketers, I was asked, “Will the full-service agency model survive?”  As part of their survey, I was shown the results of how advertisers had thus far answered the question.  It was pretty close between those that said yes (42%) and those that said no (32%).  Twenty-six percent were not sure.

By Gonzalo López Martí – Creative director, etc. / LMMiami.com

• Memes, memes and more memes.
• Clogging the arteries of the interwebs like cholesterol of maximum viscosity.
• Fails, hacktivism, dancing cats, surfing cats, grumpy cats, juvenile jokes, moronic hastily photoshopped visual puns, fake news, post truth, hatchet jobs, idle defamation, character assassination, trolling, trolling and more trolling, tabloid dirt, celebrity sex tapes, hacked private footage of bedroom activity, stolen selfies, cybernecking.
• Guilty pleasures. Schadenfreude. Braindead escapism. Ironic consumption.

There was, for once, big news at the annual advertising festival in Cannes, France, but it had nothing to do with who won the grand prizes.  Er, um, pardonnez-moi, grand prix.  Ratherm the 2017 event — formally, the Cannes Lions International Festival of Creativity — will be remembered for a startling announcement midway through by Arthur Sadoun, the new Chairman and CEO of the giant Publicis Groupe agency company, that he was bidding adieu for the next year to Cannes Lions, along with other awards shows and events such as CES and South by Southwest.

reVolver Podcasts appointed Joe Uva as non-executive chairman of the board to lead the company’s managers on all governance matters, and to help the company with its strategy and business development.

Days after one influential financial institution issued a “double downgrade” of WPP, another has downgraded the valuations of the entire publicly traded ad sector it covers, including Interpublic, Omnicom, Publicis and WPP.

Pan-American Life Insurance Group (PALIG) announced that it has acquired Hola Doctor Inc. (HolaDoctor). The acquisition is a significant strategic initiative by PALIG that both expands its presence in the U.S. Hispanic market and strengthens its position as a healthcare leader in Latin America.

According to a recent study, African-Americans and Latinos are grossly under-represented in the financial services industry and the representation of these groups is expected to drastically decline if hiring and retention efforts are not made a priority by banks and other financial institutions.

Univision Communications Inc. (UCI) announced that Keith Turner, president of Advertising Sales & Marketing, will retire at the end of the year. The Company will announce leadership transition plans in the coming weeks.

Ahead of 2Q17 earnings we revise our outlook and valuations on each of the four agency holding companies we cover, Interpublic, Omnicom, Publicis and WPP.

KKR announced the combination of Cardenas Markets and Mi Pueblo, two Hispanic grocery chains in which KKR made significant investments last year, alongside Victory Park Capital.

By Gonzalo López Martí – Creative director, etc. / LMMiami.com

• There was a time not too long ago when I was an evangelist of memes.
• I’d meet with clients big and small and wax poetic about my firm conviction that the “ad” in its various formats was a dead vehicle.
• Memes are the new thing!
• Poorly produced, hastily designed, impulsively written.
• Advertising that doesn’t look like advertising!
• Fast, fun & forwardable!

Ad agencies and advertisers are victims of the belief that “creativity” is the basis of their current relationships, and that “more creativity” will give them more of what they need.  Ad agencies have promoted “creativity” since the days of Bill Bernbach, more than 50 years ago, when agencies were at the top of their game.  Advertisers, as their clients, continue to hire agencies for their perceived creativity, provided costs are rock bottom.  However, “creativity” is no longer delivering improved brand performance or increasing shareholder value.  The search for more creativity is making victims of agencies and CMOs alike — neither lasts very long in a relationship.  It’s time for a new paradigm.  The “Creative Paradigm” is out of date.  It’s not working.  By Michael Farmer

Adjusting to change is essential when facing relentless competition compounded by ongoing disruption and slow growth. Citing data and analysis, PwC’s 2017 Global Entertainment and Media Outlook offers compelling insights into how E&M companies are adapting, investing, experimenting and innovating amid six areas of change

MetroDimension is dedicated to offering Hispanic and non-Hispanic Millennials and Gen Z information and lifestyle/entertainment to help them as individuals to empower themselves to achieve more with their personal, business and family well-being.

The publisher and internet services company Terra Networks terminated its operations and closed down its websites in seven countries last Friday, 30 June: Argentina, Chile, Colombia, México, Peru, Spain and the UnIted States. The company’s headquarters in Miami, which was responsible for LATAM operations, was also closed down and the team was dismissed or transferred back to Brazil.

The United States always assumed that its forward momentum would carry the next generation toward greater prosperity, just as it took for granted that its technical prowess in manufacturing would guarantee its global market share. But now those assumptions have been upended. Although unemployment is down and wages are finally ticking up again, these indicators can distract from the bigger picture. Tens of millions of workers are struggling to make it in America, and even a full-time job does not guarantee a decent standard of living.

Getting your first job in the advertising industry can take a lot of work. It can feel overwhelming having to navigate the complexities of agency life while also trying to make a name for yourself.  By Chris Vega, a Stanford graduate, Creative Resident/Copywriter at BBDO and the recipient of the 2017 Young Innovator Award.