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WHITE PAPER · OCTOBER 2026
Why independent generalist agencies are being taken apart one at a time, and what the survivors will have chosen not to do.
In September 2026 M&C Saatchi Australia, one of the most decorated agencies in the southern hemisphere, was valued at one dollar by its own parent. It failed in the market best suited in the world to a large independent generalist. This paper sets out why: the five forces compressing the industry at once, the financial anatomy of the closure from the half-year accounts, the three positions the industry is separating into, and five decisions for founders and leaders of independent agencies, every one of them a decision about what to stop doing. It includes an eight-point test for whether your agency is in the middle, three armour numbers with thresholds, a leadership scorecard and a sequenced set of recommendations.
Written for founders, chief executives and managing directors of independent agencies offering more than one discipline. Free, no sign-up required.
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If you are leading an independent agency in the position this paper describes and want a conversation about it, I am never too busy for that one. It is the kind of problem I like solving. Email me directly and I will reply personally.
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