Welcome to Agency Business.

This week, Olivia and Brian sit down with consultant and author Michael Farmer, who has spent three decades diagnosing the economic pressures inside agencies. Farmer explains why agencies still struggle to measure work, how rework distorts staffing needs, and how digital and social accelerated the long-running pattern of falling fees and rising workloads. He also outlines what AI will mean for both creative and media agencies, including major productivity gains that could compress fees unless leaders reinvest efficiencies into senior talent and reconnect creativity, media and brand strategy.

Michael shares insights from his early consulting work at Ogilvy, his analysis of media agency staffing models and his belief that MMM tools like Mutinex can help clients and agencies better understand where growth is actually coming from. He closes with what is ahead for him as he completes his new book Madison Avenue Media Madness and shifts his focus toward teaching and training.

In News of the Week:

• IPG, Dentsu, and Globant report financial results.
• Publicis publicly challenges Omnicom’s accounting approach.
• Paramount Skydance discloses that Publicis and Interpublic won its business with media sales agreements.

The episode also features a brief mention of Olivia's new subscription PR model offering agencies a weekly hour of senior strategic thinking. For details, email olivia@fusionfrontmedia.com.

Subscribe to the Agency Business newsletter for episode notes and analysis. It’s free and drops every Monday.

Agency Business features agency CEOs and financial decision-makers alongside third party experts including agency pitch consultants. We are always accepting pitches, and are particularly interested in hearing from women and leaders of color.

📬 Pitch a guest or inquire about sponsorships:

📩 Brian at brian@madisonandwall.com

📩 Olivia at olivia@fusionfrontmedia.com

Follow Madison and Wall and FusionFront Media on LinkedIn for updates.

📊 The Madison and Wall Podcast – Brian opens up about his latest work — plus crucial economic, financial, and industry trends.

🎬 Screen & Sponsor – Olivia & VaynerMedia's Jessie Holder explore how brands are shaping Hollywood.

Welcome to Agency Business.

This week, Olivia and Brian record in person for the first time with Doug Zanger, founder of Indie Agency News, a growing platform built to help independent agencies increase visibility and confidence. A former radio producer and trade journalist, Doug shares how his background shaped the creation of Indie Agency News, which is now more than 300 members strong. Doug explains why confidence should be every agency’s most important KPI.

Doug explains how the platform supports agencies with tools like First Pass, which helps optimize press, awards, and messaging, and why language rooted in solutions rather than services can change how marketers perceive value. The group also discusses the rise of partnerships among indie shops, how AI fits into Doug’s workflow, and why he says technology should always serve people—not replace them.

In News of the Week:

• S4 Capital reports weak earnings and ongoing client concentration issues.
• Stagwell reports stronger-than-expected results despite confusing organic growth definitions.

Subscribe to the Agency Business newsletter for episode notes and analysis. It’s free and drops every Monday.

Agency Business features agency CEOs and financial decision-makers alongside third party experts including agency pitch consultants. We are always accepting pitches, and are particularly interested in hearing from women and leaders of color.

📬 Pitch a guest or inquire about sponsorships:

📩 Brian at brian@madisonandwall.com

📩 Olivia at olivia@fusionfrontmedia.com

Follow Madison and Wall and FusionFront Media on LinkedIn for updates.

📊 The Madison and Wall Podcast – Brian opens up about his latest work — plus crucial economic, financial, and industry trends.

🎬 Screen & Sponsor – Olivia & VaynerMedia's Jessie Holder explore how brands are shaping Hollywood.

Welcome to Agency Business.

This week, Olivia and Brian interview Josh Rosenberg, co-founder and CEO of Day One Agency, the creative shop founded 11 years ago to bridge the gap between earned media and brand storytelling. With offices in New York, Los Angeles, Chicago, and Portland, Day One works with clients including American Express, Chipotle, Nike, Converse, and e.l.f. Beauty.

Josh shares how Day One was built around what he calls “earned creativity”—an approach that pairs editorial thinking with culturally relevant storytelling. He explains why curiosity has become the most essential trait in the age of AI, how the agency’s apprenticeship program helps identify emerging talent, and why Day One created its Learning Fund, a $30,000 internal grant program for employees to pursue continued education.

The group discusses how Day One resists adding a media practice in favor of deeper creative partnerships, how editorial projects like Ask Gen Z and a new Gen Alpha research report inform client work, and why investing in in-house content such as podcasts and newsletters fuels both learning and new business. Josh also details how the agency’s structure—organized around its Shape, Share, and Fuel teams—keeps it nimble and “built for change.”

In News of the Week:

• WPP’s disappointing results and CEO Cindy Rose’s remarks on simplification.
• The continued consolidation of DDB under Omnicom and what it signals about holding-company structure.
• Globant consolidates marketing-related activity under Gut.

Subscribe to the Agency Business newsletter for episode notes and analysis. It’s free and drops every Monday.

Agency Business features agency CEOs and financial decision-makers alongside third party experts including agency pitch consultants. We are always accepting pitches, and are particularly interested in hearing from women and leaders of color.

📬 Pitch a guest or inquire about sponsorships:

📩 Brian at brian@madisonandwall.com

📩 Olivia at olivia@fusionfrontmedia.com

Follow Madison and Wall and FusionFront Media on LinkedIn for updates.

📊 The Madison and Wall Podcast – Brian opens up about his latest work — plus crucial economic, financial, and industry trends.

🎬 Screen & Sponsor – Olivia & VaynerMedia's Jessie Holder explore how brands are shaping Hollywood.