"The formation of Horizon Global comes at a "dynamic moment" for the ad industry, according to Bob Lord, interim CEO of the new joint venture. Agencies are contending not only with the rise of technology like generative AI, but also increased category consolidation that is lending competitors even greater scale. Omnicom Group and Interpublic Group, for example, are on the path to forming the world's largest ad-holding group after agreeing to a finalized consent order from the Federal Trade Commission on Friday."
""We intentionally designed Horizon Global to usher in a new chapter of connected intelligence, innovation, and client value," said Lord in a statement around the joint venture. "Through the BluConverged Platform, and together with our teams and partners, we can now meet the growing demands for performance-based media models and drive enduring growth for the incredible brands we are privileged to represent.""
Horizon Global is a joint venture combining Horizon Media Holdings and Havas, aggregating about $20 billion in global billings and headquartered in New York. The venture will prioritize U.S.-centric global clients and will merge Horizon's Blu and Havas' Converged.AI into BluConverged while allowing Horizon Media and Havas Media Network to operate independently. Executives present the venture as the first agency network built for the AI era, promising a seamless, AI-native experience and performance-based media models. The launch occurs amid increased M&A activity and category consolidation across the ad industry, raising competitive scale pressures.
Read at Marketing Dive
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