Two top advertising executives have teamed up to launch a specialist press planning and buying agency called The Press Business.
Steve Goodman, who served at WPP for 36 years, and former Omnicom director Peter Thomson said the new venture will exploit the opportunities created by an evolving media landscape.
The London-based agency will focus on print media, providing a specialist outlook similar to those already available for the radio and outdoor advertising sectors.
Print advertising spend has suffered a steady decline over the last decade, falling from 25 per cent of total spend in 2012 to just 8.7 per cent last year. It comes as brands increasingly pump money into digital advertising sectors.
However, Goodman and Thomson said this decline had “completely changed” the dynamics of the print category, arguing there will be consolidation of print buying from media agencies.
“Given there is no doubt that there is a significant under investment in the medium at the moment as it has fallen out of fashion with the cognoscenti, there are fantastic opportunities whether it is cheaper space, greater standout or more creative solutions that clients and agencies are failing to capitalise on,” the pair said in a statement.
The launch comes hot on the heels of other advertising startup ventures such as The Barber Shop and Walk In Media, which are looking to challenge the large holding group incumbents.