Nobody truly knows what the ever-changing media industry will bring but, wherever you sit on the Sir Martin Sorrell fence, I have personally found him someone worth listening to as his track record has historically been pretty accurate.
The former WPP chief is “extremely optimistic” about our economic prospects as COVID begins to dissipate and the economic stimulus programmes begin to kick in.
His newish ad venture organisation S4 Capital is experiencing strong demand and is yearly gains of 20% in digital advertising are expected in the next two years alone. When we hopefully talked of the first green shoots of recovery in the dark days of full lockdown, a prospect like this is mightier oak than fledgling sap.
However, do not put out the bunting quite yet. He continues “In 2023, the chickens may well come home to roost given the debt burden that most countries will have and the tax rises that will be implemented”.
Also interesting was his S4 Capital take that will see a permanent switch to working from home or a hybrid of home and office. Offices are expected to be occupied for three days a week, on average, with his own businesses seeing space for clients, more communal working spaces, and places of privacy. I wonder if this future view of using the office chimes with others.
