Are the ‘big six’ holding companies at risk of becoming obsolete?

After Iain Jacob predicted that a new breed of creativity and entrepreneurialism could thwart attempts by the “big six” to reinvent themselves, Campaign Magazine asked industry leaders if the larger networks are at risk of becoming obsolete.

MSQ CEO Peter Reid was one of those asked, and here’s what he had to say:

“There’s a very limited number of large global advertisers who still see holding companies as the only ones that can provide them with the necessary range of capabilities and scale. Most clients now require collaborative, agile teams that can respond quickly and flexibly in this tech-enabled, digitally centric world. And I think there’s little prospect of these holding companies being able to deliver the seismic level of change required to provide the mix of speed and specialist capabilities that clients really want. Most are already too bureaucratic and rigid to do that. The processes, cultures and incentives in place encourage internal competition more than collaboration.”

You can read the full article here.