Advertising business consisting of agencies, brands and advertisers is in a state of flux. It has bright future provided it redefines and reinvents itself. Business is becoming globalized. Communication technology has changed and media has become personalized and fragmented. Big data has entered the scene. Demography changes as the overwhelming young or geriatric population are seen. The metrics of effectiveness are emerging. The content is becoming two-way which was traditionally one-way. It is being measured in real time. Advertising holding companies are reinventing. They add new capabilities and integrate diverse skills. Brands matter, but brand building has changed. Social media and direct distribution can be used to build brands.