| Advertising agencies -- History. |
| Advertising -- History. |
| Marketing -- History. |
| Advertising -- Agents |
| Advertising business |
| Agencies, Advertising |
| Ads |
| Advertisements |
| Advertising -- Retail trade |
| Advertising, Consumer |
| Advertising, Retail |
| Advertising, Store |
| Commercial speech |
| Consumer advertising |
| Retail advertising |
| Speech, Commercial |
| Store advertising |
| Consumer goods -- Marketing |
| Domestic marketing |
| Retail marketing |
| Retail trade -- Marketing |
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Summary
Summary
An intimate and profound reckoning with the changes buffeting the $2 trillion global advertising and marketing business from the perspective of its most powerful players, by the bestselling author of Googled
Advertising and marketing touches on every corner of our lives, and is the invisible fuel powering almost all media. Complain about it though we might, without it the world would be a darker place. And of all the industries wracked by change in the digital age, few have been turned on its head as dramatically as this one has. We are a long way from the days of Don Draper; as Mad Men is turned into Math Men (and women--though too few), as an instinctual art is transformed into a science, the old lions and their kingdoms are feeling real fear, however bravely they might roar.
Frenemies is Ken Auletta's reckoning with an industry under existential assault. He enters the rooms of the ad world's most important players, some of them business partners, some adversaries, many "frenemies," a term whose ubiquitous use in this industry reveals the level of anxiety, as former allies become competitors, and accusations of kickbacks and corruption swirl. We meet the old guard, including Sir Martin Sorrell, the legendary former head of WPP, the world's largest ad agency holding company; while others play nice with Facebook and Google, he rants, some say Lear-like, out on the heath. There is Irwin Gotlieb, maestro of the media agency GroupM, the most powerful media agency, but like all media agencies it is staring into the headlights as ad buying is more and more done by machine in the age of Oracle and IBM. We see the world from the vantage of its new powers, like Carolyn Everson, Facebook's head of Sales, and other brash and scrappy creatives who are driving change, as millennials and others who disdain ads as an interruption employ technology to zap them. We also peer into the future, looking at what is replacing traditional advertising. And throughout we follow the industry's peerless matchmaker, Michael Kassan, whose company, MediaLink, connects all these players together, serving as the industry's foremost power broker, a position which feasts on times of fear and change.
Frenemies is essential reading, not simply because of what it says about this world, but because of the potential consequences: the survival of media as we know it depends on the money generated by advertising and marketing--revenue that is in peril in the face of technological changes and the fraying trust between the industry's key players.
Reviews (5)
Publisher's Weekly Review
New Yorker media critic Auletta (Googled) masterfully maps the rapidly evolving topography of the advertising industry. Once a freewheeling, three-martini-lunch, money-flowing industry, advertising has undergone drastic changes in the decades since the Mad Men era, particularly since the advent of the Internet, and Auletta ably traces the dramatic shifts. He profiles executives at established powerhouses, such as MediaLink's Michael Kassan and Wenda Millard, WPP's Martin Sorrell, and GroupM's Irwin Gotlieb, as well as newer power players, such as Carolyn Everson, Facebook's v-p of global marketing. Perhaps most prescient is Auletta's spot-on analysis of the interplay between traditional and social media, including traditional-media executives' concerns over the tremendous amount of data available to Facebook and Twitter and the competitive edge it brings to those platforms over long-standing outlets like TV and magazines (not to mention the related privacy concerns.) Other fascinating topics include how efforts such as Citibank's Citi Bike bike-sharing program in New York City and YouTube Red represent new forms of advertising; how Facebook fell prey to Russian attempts to influence the 2016 U.S. presidential election; and how smartphones have revolutionized advertising. Intelligent and well researched, Auletta's lively survey serves as an excellent primer to a brave new world. (June) © Copyright PWxyz, LLC. All rights reserved.
Kirkus Review
How technological change has "convulsed" the advertising industry.Mad Men's Don Draper would not recognize today's ad business, writes New Yorker media critic Auletta (Googled: The End of the World As We Know It, 2009, etc.). Once dominated by creatives and clients producing ads for print, radio, and TV, the modern industry relies on "machines, algorithms, pureed data, artificial intelligenceand on the skills of engineers." The $2 trillion global business is "strugglingto figure out how to sell products on mobile devices without harassing consumers, how to reach a younger generation accustomed to dodging ads, how to capture consumer attention in an age where choices proliferate and a mass audience is rare." In this well-researched, personality-packed account, the author examines the baffling choices facing advertisers (hundreds of media channels, billions of smartphones, etc.) and the technological threats to agencies, from ad blockers to targeted, computerized ad-buying. With trust eroding between clients and agencies, many clients find "neutral" guidance from MediaLink, a firm that orchestrates most relationships in the business. Auletta uses Michael Kassanad "power broker," MediaLink founder, and Brooklyn-born son of a Catskills comicas the thread for his lively narrative, which delves into the major agencies and most corners of the business. There are deft portraits of agency heads, including the Cambridge- and Harvard-educated Martin Sorrell, founder of WPP, the world's largest agency (he popularized the term "frenemies" for firms that both compete and cooperate, notably Google and Facebook, which take ad money but refuse to share data with advertisers), and the stylish Irwin Gotlieb, chair of GroupM media company, part of WPP, who "looks as if he just slid out of a barber's chair" and "speaks slowly, as if inspecting each word." Auletta also covers privacy, kickbacks to agencies, the growing importance of data scientists and engineers, and how media clients are building in-house ad agencies.A bright, informative take on an industry in turmoil. Copyright Kirkus Reviews, used with permission.
Booklist Review
*Starred Review* Auletta, veteran media reporter for the New Yorker, opens this astute, colorful, fully informed study with an anecdote: three years ago, addressing an annual meeting of the Association of National Advertisers, longtime ad-agency executive Jon Mandel called out his colleagues for extracting kickbacks from media companies (newspapers, magazines, TV, radio, and websites) in exchange for the dollars spent by their advertiser clients, and then keeping the money themselves. The impact was explosive, sending an industry already unnerved by the technological shifts moving beneath its feet into something of an existential crisis. However distant, even repugnant, the advertising and marketing business might seem to the average consumer, it is the fuel that drives a First World economy, Auletta argues, as he listens to a range of executives driven by, or driving, the force of change: from ad agencies to advertisers to neutral players who help customers (whether agencies or advertisers) move forward in a minefield of doubt to frenemies, like Facebook and Google, who pour money into agencies while luring away their customers. Adding to the shifts taking place in advertising and marketing, Auletta points out, is the lack of a rising new generation of leadership. An important if utterly disquieting book.--Moores, Alan Copyright 2018 Booklist
New York Review of Books Review
THE PISCES, by Melissa Brodér. (Hogarth, $25.) In Broder's charmingly kooky debut novel, a depressed Ph.D. student chances upon her dream date - and he's half fish. Brodér approaches the great existential subjects as if they were a collection of bad habits. That's what makes her writing so funny, and so sad. KUDOS, by Rachel Cusk. (Farrar, Straus & Giroux, $26.) As she did in the first two volumes of this spare, beautiful trilogy, Cusk illuminates her narrator's inner life via encounters with others. The novels describe in haunting detail what it's like to walk through the world, trailing ashes after your life goes up in flames. SHE HAS HER MOTHER'S LAUGH: The Powers, Perversions, and Potential of Heredity, by Carl Zimmer. (Dutton, $30.) Zimmer does a deep dive into the question of heredity, exploring everything from how genetic ancestry works to the thorny question of how race is defined, biologically. The book is Zimmer at his best: obliterating misconceptions about science in gentle prose. FRENEMIES: The Epic Disruption of the Ad Business (and Everything Else), by Ken Auletta. (Penguin Press, $30.) Advertising has lost its luster in recent decades - in part because of the dependency and competition between ad agencies and Silicon Valley, one of many "frenemy" relationships Auletta details. BAD BLOOD: Secrets and Lies in a Silicon Valley Startup, by John Carreyrou. (Knopf, $27.95.) Elizabeth Holmes and her startup, Theranos, perpetrated one of the biggest scams in the history of Silicon Valley, raising millions for a medical device that never really existed. Carreyrou's account reads like a thriller. REPORTER: A Memoir, by Seymour M. Hersh. (Knopf, $27.95.) In Hersh's long, distinguished and controversial career he exposed brutality, deception, torture, illegal surveillance and much else. His memoir about knocking on doors in the middle of the night and reading documents upside down can be considered a master class in the craft of reporting. THE GIRL FROM KATHMANDU: Twelve Dead Men and a Woman's Quest for Justice, by Cam Simpson. (Harper/ HarperCollins, $27.99.) Simpson, an investigative reporter, retraces the journey of 12 laborers from their Nepal homes to their deaths by terrorists in Iraq while en route to an American military base. THE PERFECTIONISTS: How Precision Engineers Created the Modern World, by Simon (Harper/HarperCollins, $29.99.) This eclectic history celebrates feats of engineering while asking if imperfection might have a place. THE DEATH OF DEMOCRACY: Hitler's Rise to Power and the Downfall of the Weimar Republic, by Benjamin Carter Hett. (Holt, $30.) Hett's sensitive study of Germany's collapse into tyranny implies that Americans today should be vigilant. The full reviews of these and other recent books are on the web: nytimes.com/books
Library Journal Review
A plethora of recent books have focused on disruption in the ad world; Mara Einstein's Black Ops Advertising concentrates on the threats of content marketing, while Tim Wu's Attention Merchants situates newer forms of advertising in their historical context. New Yorker writer Auletta (Googled: The End of the World As We Know It) delves into how disruptions are impacting the most powerful agencies and personalities in the business and changing the way advertising is bought, sold, and created. With journalistic precision, the author profiles the executives and companies that have dominated the advertising, marketing, and media industries over the past decade before pivoting to describe how relatively new influencers such as Facebook and Google have overturned conventional thinking. Traditional agencies and media brokers are facing challenges from all quarters, including both the companies that have historically turned to them for marketing expertise and the platforms that have provided space for branded content. VERDICT This thorough volume will appeal to those with a keen interest in advertising and marketing as well as those interested in how media strategies are shifting in response to the availability of individualized consumer data.-Rebecca Brody, Westfield State Univ., MA © Copyright 2018. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Table of Contents
| Introduction | p. 1 |
| 1 The "Perfect Storm" | p. 7 |
| 2 "Change Sucks" | p. 27 |
| 3 Good-bye, Don Draper | p. 39 |
| 4 The Matchmaker | p. 51 |
| 5 Anxious Clients | p. 75 |
| 6 "Same Height as Napoleon" | p. 99 |
| 7 Frenemies | p. 119 |
| 8 The Rise of Media Agencies | p. 139 |
| 9 The Privacy Time Bomb | p. 155 |
| 10 The Consumer as Frenemy | p. 171 |
| 11 Can Old Media Be New? | p. 187 |
| 12 More Frenemies | p. 205 |
| 13 Marketing Yak-Yaks and Mounting Fear | p. 223 |
| 14 The Client Jury Reaches Its Verdict | p. 239 |
| 15 Cannes Takes Center Stage | p. 247 |
| 16 Mad Men to Math Men | p. 261 |
| 17 Dinosaurs or Cockroaches? | p. 279 |
| 18 Good-bye Old Advertising Axioms | p. 293 |
| 19 "No Rearview Mirror" | p. 317 |
| Acknowledgments | p. 341 |
| Bibliography | p. 344 |
| Index | p. 346 |