{"id":35812,"date":"2020-10-31T07:17:22","date_gmt":"2020-10-31T12:17:22","guid":{"rendered":"https:\/\/adpulp.wpengine.com\/?p=35812"},"modified":"2021-03-28T06:11:12","modified_gmt":"2021-03-28T11:11:12","slug":"the-center-of-has-gravity-shifted","status":"publish","type":"post","link":"https:\/\/www.adpulp.com\/the-center-of-has-gravity-shifted\/","title":{"rendered":"The Center of Gravity Has Shifted"},"content":{"rendered":"

Manhattan’s commercial real estate, like everything in The City, is outrageously expensive. Since COVID-19 infected our public spheres last March, these towering office structures have also been largely empty.<\/p>\n

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Did you know that only 15% of office workers are projected to return by the end of 2020, according to the Partnership for New York City?<\/a><\/p>\n

No One’s Home on Madison Avenue<\/h2>\n

Madison Avenue was once the pulsating center of the advertising agency business. That reality has been fading slowly for decades. The COVID hit and everything changed all at once.<\/p>\n

This week, during Omnicom Group\u2019s third-quarter earnings call, Chairman and CEO John Wren said he doesn’t \u201cbelieve we need every single function in New York City; [some] can be moved to lower-cost areas,\u201d Ad Age\u2019s<\/em> Lindsay Rittenhouse reports<\/a>.<\/p>\n

As agencies assess what the future looks like in a post-COVID world, another area of focus is mental health. Wren said being out of the office \u201cputs different people in different situations.\u201d<\/p>\n

Ultimately, Wren doesn\u2019t ever expect to see everyone go back to the office five days a week.<\/p>\n

Underpaid and Overworked Millenials Have Been Headed Elsewhere for Years<\/h2>\n

The Hard Reset is upon us and it’s forcing new thinking and new ways of conducting ourselves and our businesses.<\/p>\n

Ellie Mae, a mortgage data firm, has a\u00a0Millennial Tracker<\/a> that highlights which towns have high percentages of mortgages closed by millennials. Far-from-the-bright-lights towns like Athens, Ohio, and small cities like El Paso, Texas.<\/p>\n

Another small city that keeps making headlines is Chattanooga, Tennessee. According to Livability.com<\/a>, Chattanooga’s entrepreneurial ecosystem and 10-gig broadband have made the city a startup magnet.<\/p>\n

The city’s vibrant and walkable downtown fuses public spaces, restaurants, coffee shops, and other gathering places with amenities such as a bike-share program and free downtown electric shuttle. That chemistry brings together creative thinkers, entrepreneurs, students, and tech-savvy innovators to “collide and collaborate” to conceive new ideas.<\/p>\n

Have You Heard of Humanaut?<\/h2>\n

Humanaut<\/a> is “a new kind of project-based creative agency and production studio designed for emerging, challenger brands that need advertising and video thingies but don\u2019t want an ad agency.”<\/p>\n

The Humanauts also love their Chattanooga home.<\/p>\n