Overview

This is a critical, deep-dive examination into how the advertising industry's media function collapsed from a profitable, integrated department during the Golden Age of Advertising into today’s fragmented, less effective, and often opaque business. Authored by industry veteran Michael Farmer, the book systematically traces the decline, starting from the era when media was a low-status but high-profit ""back office"" activity fuelled by 15% commissions, to its current state marred by technological complexity, financial mismanagement, and a lack of C-Suite leadership. Farmer meticulously dissects the core issues plaguing modern media operations, including the economic realities of agencies, their staffing and metrics, and the pernicious influence of the 'Shareholder Value' mindset that prioritized short-term cost-cutting over long-term efficacy. Crucially, the book also delves into the future, analysing the transformative potential and concurrent challenges posed by Artificial Intelligence (AI) in the media world.

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9781918215120

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Author Information

Prior to founding Farmer & Company in 1992, Michael Farmer was a strategy consultant with The Boston Consulting Group and a Director of Bain & Company. He headed Bain’s Munich, Paris and London offices during Bain’s decade of European expansion in the 1980s. He is the author of Madison Avenue Manslaughter.

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