Open Innovation COULD Re-Define the Media Industry and overrun the Status Quo of the last two decades.

In the MEDIA AND MARKETING INDUSTRY misconceptions often hinder progress and innovation. the need for new ways of thinking and working has never been more apparent. traditional debates between independent agencies OR large holding groups, and the misconceptions surrounding them, have limited the scope of opportunities for brands WHO ARE FORCED TO CHOOSE ONE OR ANOTHER, renouncing VALUABLE OPPORTUNITIES IN THE PROCESS

As I have shared in previous articles, it´s my view that the fusion of humanistic research with data science is changing the game of connecting with consumers. It's not about choosing between numbers and stories but understanding that both are important. Likewise, being able to choose partners from the Holding Co and Independent world at the same time and expecting them to collaborate openly and leave an old-school industry debate that is self-serving and not client-serving behind is equally important.

Embracing Change in Media: The Power of New Partnerships and Trust-Based Open Collaboration

The rise of new entities such as R&D and science-based firms, Open Innovation and collaboration Hubs, and Science and Technology Parks, alongside post-digital strategy agencies, presents an exciting opportunity to redefine media partnerships. Central to this evolution is the importance of people and the cultivation of trust, which are crucial in breaking down outdated models and embracing a future driven by collaborative open innovation.

HAS “THE MEDIA INDUSTRY” FORGOTTEN THAT THIS BUSINESS HAS ALWAYS BEEN ABOUT PEOPLE?

The Traditional Media Agency Landscape

Traditionally, the media industry has been dichotomized into independent agencies and large holding groups. Independent media agencies offer personalized, transparent, and flexible services, excelling in agility and short-term delivery. Conversely, large holding groups provide a broad range of services and strategic depth, focusing on long-term industry trends and investments. However, this binary view overlooks the potential synergies and collaborative opportunities that exist outside these traditional structures and outdated models

The Emergence of R&D and Post-Digital Strategy Firms

R&D and science-based firms like Bedrock, post-digital strategy agencies such as ReMotive, and open Innovation Hubs are changing the narrative. These entities don’t engage in media buying or campaign activation; instead, they specialize in foundational research, development, knowledge sharing, and strategic planning. Their role is to provide deep insights and innovative strategies, making them ideal partners for both independent agencies and large holding groups. This rising partnership model offers a comprehensive, open-source/innovative approach, bridging the gap between research, strategic planning, and execution.

Beyond the Network Holding vs. Indie Agency Debate

These new entities transcend (at last) the traditional “Network Holding vs. Indie Agency” debate which became stale a long time ago. They are not confined to the limitations of either model but rather complement both with the aim of breaking down silos and adding real value to clients, who have long been made part of a debate that brings little value to their real needs whilst it limits their choices. The opportunity these open partnerships offer is especially interesting for holding companies that have had a habit of looking at collaboration as the first step toward buying out smaller companies or what is worse, poaching their people. Which in turn has generated a culture of “Build to sell” or “keep away” among entrepreneurs. Large holdings often manage large, multibrand, multimarket, sophisticated clients with more resources, and Indies manage family-owned, founder-managed, multi-local, challenger brands, startups, or local heroes. For both, these conflict-free partnerships can bring in-depth research, innovative strategies, and advanced digital insights, enhancing the capabilities of these agencies to deliver more sophisticated, data-driven solutions. But when a partner is forced to sell out or lose its team, treated as a threat, or seen as inferior most of the value vanishes and the Holding co or Indie is back to where it started.

The Importance of People and Trust

At the heart of transforming these media models is the importance of people and trust. Strong, transparent relationships and mutual trust are essential in fostering successful collaborations. This focus on interpersonal connections and trust-building is vital in ensuring the alignment of goals, open communication, and a shared vision. Trust-based collaborations between the Big and the Small, based on personal connections enable all parties to work effectively towards innovative, impactful media strategies, especially when smaller science-based companies begin to work with complex structures and processes of larger holding companies.

Opportunities Presented by New Ways of Thinking and Working

The opportunity presented by these new ways of thinking and working is immense. By embracing collaborations with R&D and post-digital strategy firms, media agencies can leverage a more nuanced, holistic approach. This approach not only blends the agility and personalization of independents with the strategic depth of holding groups but also infuses these partnerships with cutting-edge research and forward-thinking digital strategies. On the other hand, it allows niche, science-based companies to access briefs and resources of larger clients and more exciting projects that keep the team motivated by a sense of purpose that comes from seeing how knowledge and their work are used in the real world.

These are just some of the reasons I believe it’s time to change the game and, whether you are big or small, listed or Indie, start to look at things in a way that helps to actually Make Different Happen.

The future of media partnerships lies in breaking away from outdated dichotomies and moving towards a more integrated, collaborative approach driven by trust and innovation. As the industry continues to evolve, the success of brands will increasingly depend on their ability to adapt to these new models, led by people who trust each other and are committed to working together. Embracing these new partnerships and the opportunities they offer will be key in navigating the complexities of the modern media landscape, ultimately leading to greater innovation, effectiveness, and growth for brands.

There are very few media agencies that are making moves to open-innovation, inclusive approaches like this, But I am lucky to be involved in some interesting conversations in this direction lately with inspiring people I know from the past, who I deeply respect and trust.

Let´s Make Different Happen!

Thanks for reading: comments/contributions/additions are very welcome!