Media.Monks, the operating brand of Martin Sorrell's S4 Capital, is becoming simply Monks and in the process is streamlining its offerings.
The digital-first, data-driven, advertising, marketing and technology services company will transition to two practices: Marketing services and Technology services.
Both are powered by Monks.Flow, an AI-powered, marketing and workflow platform.
These offerings will be underpinned by a consulting group.
“Many of today’s agencies are wrestling with the pace of change in a world profoundly transformed by technology,” said Sir Martin Sorrell, the founder and chair of S4 Capital.
"It's always been our ambition to disrupt the legacy model and today marks another important milestone in that journey.
“With this shift in the way we deliver our services to market, we are better able to help clients transform the economics of their businesses and are well-positioned to develop and define the future of our industry.”
The pure-play digital advertising group is under stress from a decline in ad spend by technology companies. In May, S4 Capital reported like-for-like revenue down 16.6% to £210.2 million in the March quarter.
Brady Brim-DeForest, CEO, Technology services, said the aim of the streamlining is to simplify and accelerate the possibilities of technology and creativity.
And Kate Richling, CMO, said dropping "media" from the name, the new operating brand more accurately represents the integrated global team, unified expertise and diverse communities.
Organisational and reporting structures to support the new services model will launch in 2025.
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