announcing layoffs and other cost-cutting measures across their agency networks as advertisers slash spending. Meanwhile, layoffs and belt-tightening continued to wrack publishers from Condé Nast to Group Nine Media.
Everyone has a take on how the post-pandemic world will look, and we're starting to see the seeds of one change inTech platforms like Tongal, Communo, and Mofilm and networks like We Are Rosie that help freelancers get commercial work are booming as brands scramble to make new campaigns. If the shift lasts, it could speed up the undoing of traditional ad agencies.
Some of it's timing. Companies that recently raised money or are close to profitability are in a safer place, as are founders who have raised before and have a track record, media investors told me. Investors said beyond cutting to preserve cash until the economy comes back, there are some proactive things media operators can do, like testing new forms of paid content and super serving advertisers.
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