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Agency Business

Brian Wieser and Olivia Morley

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Agency Business is a podcast about ad agencies, from media industry analysts Brian Wieser and Olivia Morley. In our interviews with agency CEOs and industry experts, we explain the week's agency news and provide the context you need to navigate the business. Check it out on Spotify, Apple or wherever you get your podcasts.
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Madison and Wall's Brian Wieser digs nto how the advertising business really works. Subscribe for analysis, insight and more about advertising, media and technology trends. Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at https://madisonandwall.substack.com/. To learn about becoming a paid subscriber or advertising with us, reach out to Brian at [email protected].
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show series
 
Jill Kelly, North America CEO of Assembly, joins co-hosts Olivia Morley and Brian Wieser to discuss her first few months leading the Stagwell media agency—and how she’s thinking about pricing models, technology, and talent in an increasingly complex media ecosystem. Jill shares her unconventional path to executive leadership, which spans media buyi…
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Talia Arnold, managing director and co-founder of Exverus Media, joins co-hosts Olivia Morley and Brian Wieser to discuss how the Los Angeles-based agency has scaled without shortcuts—maintaining a lean team, independent ethos, and focus on solving complex marketing problems with creativity and tech-enabled insight. Talia shares her nontraditional …
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On this week's M&W Podcast we review our take on the potential consequences for foreign capital investment that may follow from tax policy changes in the US, go over new TV data we published on pay TV subscriptions, video ad loads and video spending and assess the news of Publicis' acquisition of a new influencer agency.…
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Sean Corcoran, president of MissionOne Media and longtime agency leader, joins co-hosts Olivia Morley and Brian Wieser to discuss the launch of MissionOne within the growing “big indie” platform BarkleyOKRP—and what it takes to build a media brand inside a full-service agency structure. Sean walks through his career path, from political work and af…
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Reid Carr, CEO and executive creative director of Red Door Interactive joins this week's episode of Agency Business. In a wide-ranging interview, Reid shares the history of his agency, its focus on integrated services and the choices he has made as the business has grown. Plus, Brian and Reid discuss: S4 Capital and Stagwell's diverging Q1 2025 res…
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On this week's M&W Podcast, we provide our regular take on new economic data, advertising industry earnings results and more. We also summarize our original research of the week. Plus, our Advertising 101 series continues with a focus on digital advertising – and programmatic advertising in particular – with Dentsu Media’s global addressable lead, …
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Jared Belsky, CEO and co-founder of Acadia, joins co-hosts Olivia Morley and Brian Wieser to talk about building a mid-market agency at scale and why he’s become one of the industry’s most vocal critics of principal-based media buying. Jared shares what led him to co-found Acadia after leading 360i, and why the firm has centered its business model …
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On this week’s M&W Podcast we summarize our take on the latest GDP data, a critique of Mark Zuckerberg’s take on how AI-driven advertising will impact GDP, second quarter ad results and much more. Plus, on this week's podcast, our Advertising 101 series continues with a focus on digital advertising with Scott Ensign, chief strategy officer of indep…
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José Villa, founder and president of Sensis, joins co-hosts Olivia Morley and Brian Wieser to talk about what it takes to build and scale an independent cross-cultural agency, and what the future of multicultural marketing looks like in today's shifting business and political climate. José shares the origin story behind Sensis, how the agency evolv…
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On this week’s M&W Podcast, no Ads 101 - back soon! - we review the meaning of the latest consumer sentiment data for the advertising industry and summarize the work we did this week which included the following pieces: Large Marketer CEO and CFO Commentary for Week Ending April 25, 2025: Capital One, Colgate, Keurig Dr. Pepper, P&G + Unilever IPG'…
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Nicole Estebanell, U.S. CEO of Mediahub, joins co-hosts Olivia Morley and Brian Wieser to talk about what it means to lead a challenger agency inside one of the world’s largest media networks. Nicole walks through her career journey, beginning with her early media roles at Digitas and Neo to later leading the Nike account at Mindshare, serving as g…
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On this week’s M&W Podcast we summarize our take on what happens if Meta and Alphabet are forced by courts to sell parts of their businesses, the latest earnings results from Publicis and Omnicom and hear from Greg McLelland, Madison and Wall's new General Manager of Canada / CRO Advisory Practice Lead. Plus, on this week's podcast, our Advertising…
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Jon Cook, CEO of VML, joins co-hosts Olivia Morley and Brian Wieser to talk about the agency’s evolution and what it means to lead a business that spans both world-class creative and deep enterprise technology. Jon walks through how VML was formed through a series of mergers — including Wunderman, J. Walter Thompson, and Y&R — and how the newly uni…
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On this week’s M&W Podcast we summarize our analysis of near-term scenarios for the economy and advertising industry, explore what an EU tax on digital advertising would do, what a tarrif on pharmaceutical advertising would do, Havas' latest results and much more. Plus, on this week's podcast, our Advertising 101 series continues with a focus on ou…
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Simon Hill, U.S. president of FutureBrand, joins co-hosts Olivia Morley and Brian Wieser to talk about what it takes to build a consultancy built around brand, inside one of the world’s largest holding companies. Simon shares how FutureBrand operates as a brand-led strategy and design company within IPG, and how the firm balances its project-based …
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On this week’s M&W Podcast we summarize our analysis of high ad-intensity categories of imports, the specific impact of announced tariff policies on Amazon, Meta and the broader industry, review Stagwell’s investor day and look at new data we published around independent agencies. Plus, on this week's podcast, our Advertising 101 series continues w…
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Lisa Clunie, co-founder and CEO of JOAN joins co-hosts Olivia Morley and Brian Wieser to talk about what it takes to build and lead a modern independent agency. From JOAN's origins in New York to its expansion into Berlin and London, Lisa shares how the company has evolved into a multi-faceted creative firm—with an advertising agency, production st…
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Each week on the M&W Podcast, we discuss new risks and opportunities for global agencies that follow from US government policies – especially in a world where tariffs on services may become more commonplace – as well as the latest results from S4, M&C Saatchi and more. Plus, on this week's podcast, our Advertising 101 series continues with a focus …
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Kate O’Brien, founder of Powers of Reasoning and former executive at Omnicom Media Group agencies such as Hearts & Science and Resolution Agency, joins co-hosts Olivia Morley and Brian Wieser to discuss evolving compensation models, balancing senior talent with efficiency, and the future of media agency leadership.​ Drawing from her extensive exper…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. On this week's podcast we review our newest advertising forecast, our recent research on the recent history of automotive advertising and provide read-throughs for the agency and advertising industries from …
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. On this week's podcast we review our newest advertising forecast, our recent research on the recent history of automotive advertising and provide read-throughs for the agency and advertising industries from …
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Jane Crisan, CEO of Rain the Growth Agency, joins co-hosts Olivia Morley and Brian Wieser to discuss how independent agencies are navigating market uncertainty, balancing media and creative, and leveraging technology to drive client growth. Jane shares her journey from leading digital practices at holding company agencies to taking the helm at Rain…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. On this week's podcast we look at the latest data on consumer sentiment, 2024's muted political advertising spending, our latest analysis on video services spending and cord cutting as well as Kantar's pendi…
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Kern Schireson, chairman & CEO of Known, joins co-hosts Olivia Morley and Brian Wieser to break down what’s wrong with today’s agency model and how data, AI, and a new approach to transparency could fix it. Kern shares his journey from building a data science consultancy to leading Viacom’s advanced TV efforts and ultimately launching Known, an age…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. This week that new work includes analyses of the impact of tariffs (whether fully enacted or not) on auto industry advertising, the new IPO filing from MNTN and what is says about the opportunity (or lack th…
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Bob Lord, President of Horizon Media Holdings, joins co-hosts Olivia Morley and Brian Wieser to discuss how Horizon is challenging the traditional agency model with AI, transparency, and performance-based pricing. Bob explains why he believes the media industry is in a “Great Marketing Emergency”—lagging behind other sectors in adopting technology …
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. This week that new work includes analyses of earnings results from Paramount, WPP, Stagwell and the broader agency industry (including our calculation of the industry's record levels of profitability!) In ad…
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Tim Nollen, a longtime ad industry sell-side analyst at Macquarie Group Ltd. and previously at J.P. Morgan and Bear Stearns, joins co-hosts Olivia Morley and Brian Wieser to discuss the state of agency holding companies, their challenges, and the sustainability of their business models. Tim explains how financial pressures, shifting client demands,…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. This week that new work includes analyses of earnings results from Globant and of important trends in marketing and media spending from many of the world's largest packaged goods companies, largely tied to p…
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Kevin Wassong, founder & CEO of marketing analytics startup mktg.ai, joins co-hosts Olivia Morley and Brian Wieser to discuss how artificial intelligence is reshaping creative and media, and why most marketers are struggling to keep up. Kevin explains why creative and media have been siloed for decades, how AI is accelerating the velocity of conten…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. This week that new work includes new analyses of earnings results from ad-supported companies including The Trade Desk, Roku, Interpublic, Dentsu and marketers including Coca-Cola, Ford and many more. In add…
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Samir Balwani, founder and CEO of media agency QRY, join co-hosts Olivia Morley and Brian Wieser to discuss the evolving role of media agencies, the challenges of brand awareness investments, and how independent agencies can compete with industry giants. Samir shares thoughts on why mid-sized brands struggle with top-of-funnel marketing and how his…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. This week that new work includes new analyses of earnings results from ad-supported companies including Google and Amazon, Publicis and Omnicom, Canada's Bell Media and many, many more. In addition, our Adve…
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Co-hosts Olivia Morley and Brian Wieser sit down with Chrissie Hanson, CEO of OMD USA, to discuss the evolving role of media agencies, balancing creativity with cost efficiency, and how brands can maximize the impact of their media investments. Chrissie shares her journey from strategist to CEO, highlighting how her background in media buying and p…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. Each week we review new economic data and our work from the past week. This week that new work includes new analyses of earnings results from Meta and Comcast as well as the latest comments from marketer CEO…
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In this episode of Agency Business, co-hosts Olivia Morley and Brian Wieser interview Ruben Schreurs, CEO of Ebiquity, to explore the evolving landscape of media investment and the role of media audits in maximizing ad spend. Ruben shares insights into how brands can ensure their media dollars are working harder, the importance of transparency in a…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy. Each week we review new economic data and our work from the past week. This week that new work includes a review of The FTC's action on PepsiCo (and implications for retail media), growth expectations for Om…
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In this episode of Agency Business, Brian Wieser and Olivia Morley talk with Kamran Asghar, CEO and founder of Crossmedia USA, about the evolving landscape of independent media agencies. Asghar shares insights into Crossmedia’s journey, its commitment to transparency, and how independent agencies can provide an alternative to holding company networ…
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Each week on the M&W Podcast, we discuss Madison & Wall’s latest research. This week we review new economic data and our work from the past week. This week that includes a critique of comments made by Meta CEO Mark Zuckerberg on the topic of diversity in corporate environments along with a financial analysis-driven view in support of it. In additio…
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In this episode of Agency Business, Brian and Olivia are joined by Joanne Davis, one of the industry's leading agency search consultants. Joanne founded Joanne Davis Consulting in 2000 and became a partner in SCAN International in 2006 and is currently Co-CEO. The firm specializes in agency models – internal and external, agency search/selection, a…
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As always, we review new economic data and our work from the past week. This week that includes our research on Meta's elimination of third-party fact-checking, growth rates for independent agencies, the impact on advertising from Disney's combination of Hulu Live with Fubo and our expectations for what advertisers will do if a "ban" on TikTok take…
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In this episode of Agency Business, we're joined for a fascinating conversation with independent agency FerebeeLane's co-founders to talk about working with high-end brands, broadening service offerings, global expansion and how Matt and Josh manage their business more generally. We also discuss recent industry news including the appointment of Bob…
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Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history. This week we review Madison and Wall's most popular…
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Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history. This week we review news from the Federal Reserve (…
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In this episode of Agency Business, Brian Wieser and Olivia Morley are joined by Jay Pattisall, vice president and principal analyst at Forrester, to discuss the biggest agency news of the year (and probably the decade): Omnicom’s acquisition of IPG. Wieser, Morley, and Pattisall share their insights into the implications of this deal, including: W…
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Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history. In this episode, Brian looks at a flurry of news re…
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On our debut episode, Olivia and Brian interview Paul Woolmington, CEO of Canvas Worldwide to talk about his experiences as a leader in the agency industry. We discuss a significant amount of history given his foundational role establishing media agencies as stand-alone businesses (at Y&R and The Media Kitchen) and co-founding Naked, which pioneere…
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Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history. In this episode, Brian looks at Madison & Wall's la…
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