U.S. Agencies to Shed 52,000 Jobs through 2021 Estimates Forrester

Analysts at Forrester estimate U.S. agencies will shed 52,000 jobs through 2021, and the major holding companies will lay off or furlough 49,000 employees globally, reports MediaPost

The MediaPost post states the flood of creative talent into the marketplace “will spur a new wave of entrepreneurs as many establish their own businesses that deliver agency and marketing services.

“Expect also to see niches, from ad technology to creative and search.

“Forrester anticipates the industry will see a minimum of a 5% increase in small and mid-sized boutiques and start-ups that deliver marketing, ad tech and martech solutions, according to Jay Pattisall, principal analyst at Forrester, covering creative, media, marketing and in-house agencies.”

“These new companies could be specific to performance marketing or ad tech,” he said. “It could be a category like healthcare. I don’t think we will see media buying companies, but rather technologies that work within. Also lots of consulting and marketplace commerce.”

More here.