It is definitely not the end of the Hispanic advertising agency by any means, but as the author says; "it is the end of the advertising agency as we know it."
This is not a bad thing, but rather a tremendous opportunity for those smart enough to recognize it, and brave enough to undertake the transformation of their models.
As a Hispanic marketer, I would love to see all Hispanic agencies take advantage of this opportunity to strengthen and expand their businesses while offering their clients the possibility to reach their Hispanic audiences wherever they are, regardless of the language they prefer to speak.
At this point of the evolution of the industry, flexibility to adapt to the transformation seems to be the only way for the players to stay in the game. Trying to stop the paradigm shift both the marketing and advertising industries are experiencing would be like trying to stop the advance of technology: it's just not going to happen!... which is lucky for all of us: Hispanic agencies, marketers, brands, but most importantly American consumers.
Read article of reference by Juan Aceves.