It's a first: Digital work in 2017 accounted for more than half of U.S. agency revenue.
For many agencies, however, that didn't translate into net gains. U.S. agency revenue grew a sluggish 1.8 percent in 2017, the slowest growth since the ad market emerged from recession in 2010.
Job cuts at ad agencies, weak organic growth, slumping stock prices and a tightening of marketing budgets all point to tumult in the agency business.
Parts of the agency market are thriving. Consultancies for the first time captured Nos. 6 to 10 on the list of the world's biggest agency companies, and they are well-positioned with deep ties to the C-suite.
Here, the five top takeaways from the Agency Report: