Advertising is a business that’s been around for a long time. It’s perhaps become better known due to the hit show “Mad Men,” which focuses on the world of advertising in the 1960s. Back then, ad agencies made a great deal of money as companies rushed to increase their exposure to television, the hottest medium of the day. Today, the hottest medium is the Internet — and in particular, social media. But television still brings in the big bucks for ad agencies. However, the Internet has forced many ad agencies to adapt to changing times. One way that they have… Read More
Advertising is a business that’s been around for a long time. It’s perhaps become better known due to the hit show “Mad Men,” which focuses on the world of advertising in the 1960s. Back then, ad agencies made a great deal of money as companies rushed to increase their exposure to television, the hottest medium of the day. Today, the hottest medium is the Internet — and in particular, social media. But television still brings in the big bucks for ad agencies. However, the Internet has forced many ad agencies to adapt to changing times. One way that they have gone about this is through mergers. Back in the 1960s, the ad business was much more competitive and there were many competitors. Over the years, many sold out, leaving just a few big players left. (My colleague Adam Fischbaum recently profiled one such agency.) One ad company still standing is the Interpublic Group of Cos. (NYSE: IPG). The company was founded in 1902 and was known as McKann-Erickson before 1961. However, if billionaire Paul Singer gets his way, Interpublic Group won’t be standing alone for long. He has amassed a 6.7% stake in the advertising giant and is pushing for… Read More