Sheer size and a bunch of global offices will always attract certain brands, but I'd like to think there will always be room for good, creative, effective small-medium agencies. There are many "big" brands out there that realise that large groups don't always deliver the best results on the ground. It's not just about being cheaper either, although lower overheads mean we can make budgets stretch further. Smaller agencies are naturally more focused and tend to still have the original owners actively involved, which provides a natural drive to produce great work and to grow their agency.
"Big enough to cope, small enough to care" just about sums it up.