An independent perspective on the Publicom / Omnipub merger
I initially assumed that the story of $35 billion holding company mega-merger between Omicom and Publicis, which will create the world's largest advertising group, was just a rumour on Twitter. When it became clear that it was true, I thought: bad news for the industry, good news for us at W+K and the other independents and small creative shops who are not part of some huge conglomerate.
It’s hard to see how this will benefit clients, make the work better, or help the talented people who work at Omnicom / Publicis. This is just another example of the homogenization of the business that makes agencies more alike, that focuses on scale rather than creativity and makes this industry less imaginative. I guess, as austerity bites round the world, and as other holding companies aim for scale, we’ll see more consolidation and less middle ground between giant agency groups and small independents.
Wieden + Kennedy is independent and privately owned. Always has been, always will be. We have no interest in becoming assimilated into a holding company structure. This merger won't change our strategy but it will emphasize how we differ from the mega-networks. Our structure is different but, more importantly, the values and principles that drive us are different. At W+K, the work comes first. For clients and talent who value creativity and originality, that’s a valuable distinction.
One doubts whether creativity was a consideration in this merger. It was done to increase shareholder value, achieve scale and cut costs. ‘Efficiencies’ of $500m are anticipated. The only way to achieve this is by cutting headcount. Which means cutting creative people.
We’ve found at W+K that truly brilliant creativity doesn’t come from scale; it comes from small teams of highly talented individuals given the autonomy to do their best.
Staying independent means W+K don't answer to the City, to shareholders, to a holding company or to some complex reporting structure. We can focus on the work, our clients and our people. And we can stay true to the founding principles of what Dan Wieden set this agency up to be: a place where good people can do the best work of their lives for inspiring clients.
That’s good for the work, good for our clients and good for our people.
