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To Huge’s new CEO Mat Baxter, the ad industry is going through period of evolution similar to the music industry when it digitalized in the early 2000s. Apple swooped in, creating a digital marketplace for music after traditional companies reliant on CDs didn’t fully invest in digital.
Baxter sees the agencies industry battling the same troubles, weaning itself off legacy products like linear television instead of fully embracing the digital landscape. In his first 60 days on the job, Baxter and Huge’s leadership team are evaluating the company as if the IPG agency was starting from scratch to avoid being a “prisoner of the past,” which in his mind is riskier than starting with a blank slate.
When Baxter took the reins at Huge, which grew revenue 20% year-over-year and has 1,200 employees across 12 offices, he came with the intention of developing a 45-day plan to chart the agency’s next course....