The Ad Agency Ecosystem 2024

Agencies and Brand Clients Jostle for Advantage Amid Tech Disruption and Changing Business Practices

Report by Paul Verna  | UPDATED: Oct 28, 2024
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Report
Executive Summary
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Table of Contents
Executive Summary
Agencies face challenges on several fronts
The ad agency ecosystem at a glance
Full-service and creative agencies
Media agencies
Specialized agencies
The agency-client relationship? It’s complicated
Sources
Media Gallery
About This Report
The ad agency ecosystem is vast, complex, and ever-changing. It now faces changes brought on by AI and clients’ shifting preferences over how and where to spend their advertising dollars.
Topics
Advertising Agencies
Creative Advertising
Digital Advertising
US
Table of Contents
Executive Summary
Agencies face challenges on several fronts
The ad agency ecosystem at a glance
Full-service and creative agencies
Media agencies
Specialized agencies
The agency-client relationship? It’s complicated
Sources
Media Gallery

The ad agency ecosystem is vast, complex, and ever-changing. It now faces new threats and opportunities as marketers use AI to accelerate creativity and improve targeting and personalization.

Key Question: Who are the key players in the agency space, and how can brands leverage the agencies’ evolving offerings?

Ad Agency Holding Companies and Independents
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Key Stat: In August 2024, US ad agencies employed 238,400 people—up 5,100 YoY, according to US Bureau of Labor Statistics data cited by Ad Age. September 2024 agency data is not yet available, but total employment in the advertising, PR, and related industries made a sizable gain that month.

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Table of Contents

  1. Executive Summary
  2. Agencies face challenges on several fronts
  3. The ad agency ecosystem at a glance
  1. Full-service and creative agencies
  2. Media agencies
  3. Specialized agencies
  1. The agency-client relationship? It’s complicated
  2. Sources
  3. Media Gallery

Charts in This Report

Ad Agency Holding Companies and IndependentsUS Ad Spending Managed by Agency Holding Companies, Independent Agencies, and Brand-Direct Advertisers, 2019-Q1 2024 (% of total)
Ad Agency Holding Companies, Ranked by Revenues Worldwide, 2023 (billions and % change YoY)Specialized Agencies

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First Published on Oct 24, 2024

authors

Paul Verna

Contributors

Rahul Chadha
Jasmine Enberg
Vice President and Principal Analyst
Donte Gibson
Vladimir Hanzlik
Executive Editor and SVP, Content
Rajiv Leventhal
Sarah Marzano
Principal Analyst, Retail Media
Emma Noyes
Graphic Designer, Data Visualization
Naomi Rebuelta
Copy Editor
Minda Smiley
Senior Analyst, Social Media
Zia Daniell Wigder
Chief Content Officer
Yoram Wurmser
Principal Analyst