Finding purpose in a new world: how to build a profitable business in the new era of advertising

Balancing purpose, creativity and profitability

Whichever way you look at it, the advertising industry is at a cross roads. Agencies are facing disruption (and competition) from in-house teams, tech giants and consultancies. Their budgets and business models are under threat.

Yet there has never been a more exciting time to work in advertising, part of the creative industries which just this week broke the £100 billion barrier in Britain, growing at nearly twice the rate of the economy.

The shift from product-advertising to experience-advertising, immersive creativity through VR and AR, data that can provide accurate insights on audiences in real time, Artificial Intelligence… The industry is moving into areas that even five short years ago would have seemed impossible.

With the lines between threat and opportunity in the industry so blurred, it can be a challenge for agencies to define their purpose within it. The Drum teamed up with speakers from Radley Yelder and Deltek WorkBook to explore how agencies can navigate these crossroads.

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