Independent agencies have long been the quiet achievers of the marketing world, but in 2025, they are loudly asserting their place at the top table. At a special roundtable during Cannes, chaired by New Digital Age’s Editor-in-Chief Justin Pearse, a group of indie agency leaders came together to discuss what is driving their momentum and why they are increasingly winning business, talent and trust.
Participants included: Mike Khouri, CEO & Founder, tactical; Paul Frampton, CEO, Goodway Group; Charlotte Mullan, MD, Walk In Media; Marco Ricci, CEO and Co-Founder, Influx; Rhys Williams, Managing Partner, the7stars; Kate Fulford-Brown, CEO, 2LK; Clive Mishon, Co-Chair, Alliance of Independent Agencies; Jason Foo, CEO, BBD Perfect Storm; Martin Albrecht, Co-Founder & Partner, Crossmedia; and Ashley MacKenzie, Founder and Chief Executive, Fenestra.
Changing client expectations and the decline of the holding company model
Kicking off the discussion, Paul Frampton highlighted how client needs are shifting, and traditional holding companies are struggling to keep up. “In North America, holding companies’ share of media investment dropped from 40% in 2020 to 30% in 2024,” he said. “At the same time, in-housing has grown from 10% to 28%.”
That leaves space for independents to deliver strategic partnership without the baggage.
Frampton added, “More and more clients are looking around and going, ‘I just don’t know that I get what I need anymore.’ They want strategy and some of the best talent has left holding companies to join indie agencies.”
Jason Foo emphasised that indies have an edge because they are led by business leaders, not just account managers. “Most of us are running companies, not just accounts. When we talk to clients, we’re speaking peer-to-peer at the top table,” he said. “We also set the strategy of our companies. The local offices of holding companies can’t change strategy quickly, but we can.”
Winning on trust, talent and transparency
Independents are increasingly chosen not only for their agility but also for their integrity. Kate Fulford-Brown said, “We’re an employee-owned trust (EOT), so everyone has skin in the game. That matters to clients – they know we’re invested in delivering consistent, high-quality work.”
This cultural strength was echoed by Clive Mishon, who referenced research by the Alliance of Independent Agencies. “When we asked clients what they valued most in indies, it wasn’t just agility and value for money – it was credibility, creativity and trust.”
Rhys Williams of the7stars agreed, arguing that the pitch process still often fails to reflect the day-to-day value indies deliver. “There’s definitely a disconnect between RFP success and long-term delivery,” he said. “Clients are starting to understand that the initial price might be attractive, but the true value comes from service, strategy and outcomes.”
A different approach to growth and collaboration
While the perception may be that indies are booming, Charlotte Mullan offered a reality check.
“It’s great that Independents are being discussed more than ever, but I don’t think the networks are losing sleep over losing their big clients to any of us…. Yet! Pitch processes are still dominated by the Holdco with a ‘token’ indie in the mix…. Or a full Indie agency pitch list for smaller clients. As an industry we need to think differently and that bigger doesn’t always mean better.”
Mike Khouri pointed out that survival and sustainability are key drivers. “We’ve grown by focusing on partnerships, not just clients. It’s always been about helping them go to market more effectively. We think in terms of lifetime value, not short-term wins.”
The importance of collaboration between indies was also a major theme. Martin Albrecht noted, “Indies are used to collaborating across disciplines and geographies. We’re not trying to cross-sell everything – we specialise and bring in other experts when needed.”
Clive Mishon said that collaboration is gaining traction. “Our members are working together more – especially where specialisms are clearly defined. There’s huge opportunity here.”
The power of intentionality and innovation
As the market shifts, many agreed that independents are uniquely positioned to innovate and adapt. Fulford-Brown said, “In an indie, it’s easier to be intentional. We’re not adding layers of admin – we can strip things back, focus on what really matters, and move fast.”
Frampton warned, however, that innovation is now a necessity.
“Independent agencies need to seize the AI opportunity. If you’re not investing in technology, you’re falling behind. It doesn’t require a huge team anymore – five engineers can build what a network once spent millions on.”
Marco Ricci, who runs an Influencer Measurement Company built on AI technology, echoed Frampton’s thoughts; “AI has accelerated the opportunity technology provides, and indies are now in pole position to utilise those data learnings to drive higher performance across their brands’ campaigns.”
Ashley MacKenzie highlighted how his team is solving this challenge. “We’ve built a product that automates post-campaign and other reports using LLMs. It saves a day of work per report – but we’re still trying to work out how to price and scale it in a way that makes sense.”
Looking ahead
The roundtable closed with reflections on the future. While there are challenges – from tech investment to talent retention – there was a shared optimism about the continued rise of the indie agency.
“Our best clients are those who’ve been burned by holding groups,” said Albrecht. “Once they’ve experienced the difference, they don’t go back.”
Frampton summed it up well: “Success for indie agencies isn’t about trying to replicate the holding company model. It’s about doing things differently – with transparency, creativity and a business mindset.”
