http://adage.com/article/global-news/havas-announces-5-revenue-growth-half-2011/229544/
Mr. Jones confirmed that Havas is actively looking for acquisitions, particularly in the digital world, but cautioned, "We want to spend our money wisely. I've had 30 meetings with heads of companies but the valuation of digital businesses is extraordinarily high. I don't want to wish this on the business, but if the economy takes a downturn it could mean that our $1 billion goes a lot further."
Showing posts with label Agencies. Show all posts
Showing posts with label Agencies. Show all posts
Tuesday, September 13, 2011
Monday, April 4, 2011
New Havas CEO on Prowl for Deals
http://online.wsj.com/article/SB10001424052748703410604576216761649266024.html?mod=dist_smartbrief
Five years after French advertising company Havas SA buckled down on a major debt-cutting drive, David Jones, the new chief executive, is now on the hunt for acquisitions. He has €750 million, or more than $1 billion, on hand.
"The biggest change I will put into place at Havas will be the new offensive phase with a war-chest to invest," Mr. Jones said in an interview at Havas's headquarters in the Paris suburb of Suresnes. "We just need to spend the money in the right way."
Five years after French advertising company Havas SA buckled down on a major debt-cutting drive, David Jones, the new chief executive, is now on the hunt for acquisitions. He has €750 million, or more than $1 billion, on hand.
"The biggest change I will put into place at Havas will be the new offensive phase with a war-chest to invest," Mr. Jones said in an interview at Havas's headquarters in the Paris suburb of Suresnes. "We just need to spend the money in the right way."
Monday, March 28, 2011
New-School Holding Companies Are Lean, Mean and Hungry for Acquisitions
It's an interesting post-recession development: new-school holding firms spending millions to swallow up indie shops and build out mini-empires, each attempting to put its own spin on a concept pioneered nearly 60 years ago by Marion Harper. They include Project, London-based Engine and Korea's Cheil. There are also slightly more senior firms, such as MDC Partners and Dentsu, which are both acquisition hungry.
Industry observers say there's room in the marketplace for new players but what isn't clear is who will benefit the most from more agency networks -- the umbrella organizations themselves, the shops selling to them or clients.
Project Worldwide, formed last October, is home to George P. Johnson, Juxt Interactive, G7 Entertainment Marketing and Partners & Napier, which Project acquired this month. All told, Project has 1,100 employees, 25 offices and 2011 projected billings of more than $830 million. That's relatively tiny by comparison to the Big Four, but Project is promising to ramp up fast.
http://adage.com/article/agency-news/ad-holding-companies-grow-madison-avenue/149593/
Industry observers say there's room in the marketplace for new players but what isn't clear is who will benefit the most from more agency networks -- the umbrella organizations themselves, the shops selling to them or clients.
Project Worldwide, formed last October, is home to George P. Johnson, Juxt Interactive, G7 Entertainment Marketing and Partners & Napier, which Project acquired this month. All told, Project has 1,100 employees, 25 offices and 2011 projected billings of more than $830 million. That's relatively tiny by comparison to the Big Four, but Project is promising to ramp up fast.
http://adage.com/article/agency-news/ad-holding-companies-grow-madison-avenue/149593/
Digital Strategy Paying Off for Publicis
http://www.nytimes.com/2011/03/28/business/media/28levy.html?_r=1&adxnnl=1&adxnnlx=1301331931-0CqEdF54xy6b6Cqvt9HNlw
Five years ago, he spent $1.3 billion of Publicis shareholders’ money to buy Digitas, an Internet advertising agency, prompting rivals and some analysts to sneer that he had paid too much. Yet Mr. Lévy pushed ahead, adding other digital agencies, including Razorfish for $530 million in 2009.
The company’s growth has outpaced the market, he noted during an interview, and the digital skills it has acquired are helping it with technology-conscious clients like Microsoft, for which Publicis will manage more than $600 million in North American ad spending.
Digital business accounted for 28 percent of revenue at Publicis last year, putting it neck and neck with WPP Group, the world’s biggest advertising company. While WPP also invested in digital advertising, it did so less aggressively. But it too is reaping the benefits of the recovery, reporting solid gains in revenue and profit for last year.
“What we have seen since the beginning of 2010 — it was almost like somebody turning on a light switch,” said Martin Sorrell, chief executive of WPP, during a Deutsche Bank Securities conference in Palm Beach, Florida, this month.
Nevertheless, the advertising turnaround has been uneven. While some traditional media, like print, continue to lag behind, spending has bounced back strongly on television. And emerging markets, which barely stumbled during the crisis, continue to push ahead.
For the moment, he said, the company was focusing on smaller, “targeted” deals. Since the beginning of the year, for example, Publicis has acquired four small agencies in Britain, each of which brings a specific area of expertise.
“Some acquisitions are interesting to look at because of the scale they would bring to Publicis,” he said. “But it would be problematic to spend two or three years just building scale.”
Five years ago, he spent $1.3 billion of Publicis shareholders’ money to buy Digitas, an Internet advertising agency, prompting rivals and some analysts to sneer that he had paid too much. Yet Mr. Lévy pushed ahead, adding other digital agencies, including Razorfish for $530 million in 2009.
The company’s growth has outpaced the market, he noted during an interview, and the digital skills it has acquired are helping it with technology-conscious clients like Microsoft, for which Publicis will manage more than $600 million in North American ad spending.
Digital business accounted for 28 percent of revenue at Publicis last year, putting it neck and neck with WPP Group, the world’s biggest advertising company. While WPP also invested in digital advertising, it did so less aggressively. But it too is reaping the benefits of the recovery, reporting solid gains in revenue and profit for last year.
“What we have seen since the beginning of 2010 — it was almost like somebody turning on a light switch,” said Martin Sorrell, chief executive of WPP, during a Deutsche Bank Securities conference in Palm Beach, Florida, this month.
Nevertheless, the advertising turnaround has been uneven. While some traditional media, like print, continue to lag behind, spending has bounced back strongly on television. And emerging markets, which barely stumbled during the crisis, continue to push ahead.
For the moment, he said, the company was focusing on smaller, “targeted” deals. Since the beginning of the year, for example, Publicis has acquired four small agencies in Britain, each of which brings a specific area of expertise.
“Some acquisitions are interesting to look at because of the scale they would bring to Publicis,” he said. “But it would be problematic to spend two or three years just building scale.”
Monday, January 31, 2011
Cheil Struggles to Escape From Shadow of Samsung
http://adage.com/globalnews/article?article_id=148558
Michael Kim. a candid and charismatic Korean who was president of Cheil USA, took over the global chief operating officer post from Bruce Haines, who starts a new role in Seoul as chief strategy officer. Mr. Kim now oversees Cheil's day-to-day business operations while Mr. Haines will focus on growth through mergers and acquisition. In the last two years, Cheil has scooped up Beattie McGuinness Bungay in the U.K., Barbarian Group in the U.S. (a buy led by Mr. Kim in December 2009), Herezie in France and Open Tide China in Beijing.
Cheil, which is still 15% owned by Samsung, is No. 19 on Ad Age's ranking of the world's top 50 agency companies, with worldwide revenue of $312 million in 2009.
Michael Kim. a candid and charismatic Korean who was president of Cheil USA, took over the global chief operating officer post from Bruce Haines, who starts a new role in Seoul as chief strategy officer. Mr. Kim now oversees Cheil's day-to-day business operations while Mr. Haines will focus on growth through mergers and acquisition. In the last two years, Cheil has scooped up Beattie McGuinness Bungay in the U.K., Barbarian Group in the U.S. (a buy led by Mr. Kim in December 2009), Herezie in France and Open Tide China in Beijing.
Cheil, which is still 15% owned by Samsung, is No. 19 on Ad Age's ranking of the world's top 50 agency companies, with worldwide revenue of $312 million in 2009.
Monday, September 13, 2010
Eric Silver Becomes Majority Owner of Amalgamated, New York
http://adage.com/agencynews/article?article_id=145770
Eric Silver is trading in big-agency life to run a small, indie shop. The former top creative at Omnicom Group's DDB is taking a majority ownership stake in 34-person Amalgamated, New York, and will serve as its chief creative officer.
Until now, the three admen who set up Amalgamated in 2003 all had equal stakes in the shop. As part of the changes, co-founder and executive creative director Jason Gaboriau -- who plans to leave the agency to pursue a creative position at a larger shop -- has sold his stake to Mr. Silver. The two other co-founders, Director of Strategy Doug Cameron and CEO Charles Rosen, have also sold portions of their stakes to Mr. Silver, though both maintain minority interest and are remaining with the agency in their current titles.
Mr. Silver's move to Amalgamated reunites a team that worked together for five years at Cliff Freeman in the late 1990s, producing work for clients such as Mike's Hard Lemonade, Fox Sports and Budget Car Rental and other brands. "All of us spent quite a bit of time together at Cliff Freeman," said Amalgamated CEO Mr. Rosen. "Eric quit and 15 minutes later, Doug, Jason and I went into Cliff's office; the three of us left to go start a small agency and he left to take on big-agency opportunities. We all chose the thing we needed to choose at that time. In that seven or eight years, Doug and I learned what we'd need to do to take the agency to the next level to attract a certain calber of clients, and Eric became very, very ready to do his own thing, but it took him that journey to be ready to do that."
Mr. Silver has already contributed to bringing in a new client for Amalgamated; he helped lead a pitch for used car company CarMax in which it last week prevailed as the winner. That account is a boost for the shop, which earlier this year lost longtime client Mike's Hard Lemonade to Arnold, New York after a review. In addition to Carmax, the agency's current client roster includes Unilever's Ben & Jerry's brand, Coca-Cola Co., Qdoba Mexican Grill and MSG Networks.
Eric Silver is trading in big-agency life to run a small, indie shop. The former top creative at Omnicom Group's DDB is taking a majority ownership stake in 34-person Amalgamated, New York, and will serve as its chief creative officer.
Until now, the three admen who set up Amalgamated in 2003 all had equal stakes in the shop. As part of the changes, co-founder and executive creative director Jason Gaboriau -- who plans to leave the agency to pursue a creative position at a larger shop -- has sold his stake to Mr. Silver. The two other co-founders, Director of Strategy Doug Cameron and CEO Charles Rosen, have also sold portions of their stakes to Mr. Silver, though both maintain minority interest and are remaining with the agency in their current titles.
Mr. Silver's move to Amalgamated reunites a team that worked together for five years at Cliff Freeman in the late 1990s, producing work for clients such as Mike's Hard Lemonade, Fox Sports and Budget Car Rental and other brands. "All of us spent quite a bit of time together at Cliff Freeman," said Amalgamated CEO Mr. Rosen. "Eric quit and 15 minutes later, Doug, Jason and I went into Cliff's office; the three of us left to go start a small agency and he left to take on big-agency opportunities. We all chose the thing we needed to choose at that time. In that seven or eight years, Doug and I learned what we'd need to do to take the agency to the next level to attract a certain calber of clients, and Eric became very, very ready to do his own thing, but it took him that journey to be ready to do that."
Mr. Silver has already contributed to bringing in a new client for Amalgamated; he helped lead a pitch for used car company CarMax in which it last week prevailed as the winner. That account is a boost for the shop, which earlier this year lost longtime client Mike's Hard Lemonade to Arnold, New York after a review. In addition to Carmax, the agency's current client roster includes Unilever's Ben & Jerry's brand, Coca-Cola Co., Qdoba Mexican Grill and MSG Networks.
Friday, July 9, 2010
Aegis Launches Team Epic
'Lifestyle' marketing shop has 200 employees http://www.adweek.com/aw/content_display/news/agency/e3i691fbb5b4fe8721fd214e919590c7aaa
At the core of the operation are two existing Aegis units -- events specialist Velocity Sports & Entertainment and experiential marketing unit Vivid Marketing -- which are being integrated under the Team Epic umbrella, Aegis said.
Aegis said the new offering is designed to ensure that clients-- including AT&T, FedEx, IBM, Sports Illustrated, Charles Schwab and Mars -- are "completely responsive to the needs and desires of consumers now and into the future."
The holding company said additional Aegis units would also be incorporated into the Team Epic operation, including research firm SRi. The new entity will also have access to the digital resources of Isobar, the company said. Team Epic will be managed by a committee comprising current Velocity principals Dave Grant, Mike Reisman and Bob Wilhelmy and Vivid leaders Erik Peterson and Andy Cook.
Team Epic will house over 200 employees at offices in Norwalk, Conn., Atlanta, Charlotte, N.C., Boston, San Francisco and London.
"Team Epic has been developed with an eye on today's consumer trends," said Reisman. "We believe it is critical to provide our clients the means to get close to their consumers -- both b-to-b and b-to-c --- in the most intimate, compelling and measurable ways."
"Core to the Team Epic brand promise is the idea of 'personalization,'" said Peterson. "We believe this is a pervasive thread which runs through the fabric of this new organization."
At the core of the operation are two existing Aegis units -- events specialist Velocity Sports & Entertainment and experiential marketing unit Vivid Marketing -- which are being integrated under the Team Epic umbrella, Aegis said.
Aegis said the new offering is designed to ensure that clients-- including AT&T, FedEx, IBM, Sports Illustrated, Charles Schwab and Mars -- are "completely responsive to the needs and desires of consumers now and into the future."
The holding company said additional Aegis units would also be incorporated into the Team Epic operation, including research firm SRi. The new entity will also have access to the digital resources of Isobar, the company said. Team Epic will be managed by a committee comprising current Velocity principals Dave Grant, Mike Reisman and Bob Wilhelmy and Vivid leaders Erik Peterson and Andy Cook.
Team Epic will house over 200 employees at offices in Norwalk, Conn., Atlanta, Charlotte, N.C., Boston, San Francisco and London.
"Team Epic has been developed with an eye on today's consumer trends," said Reisman. "We believe it is critical to provide our clients the means to get close to their consumers -- both b-to-b and b-to-c --- in the most intimate, compelling and measurable ways."
"Core to the Team Epic brand promise is the idea of 'personalization,'" said Peterson. "We believe this is a pervasive thread which runs through the fabric of this new organization."
WPP Chief Says Ad Markets Improving
http://online.wsj.com/article/SB10001424052748704911704575326513992645070.html
Markets have improved across regions though, with the biggest turnaround in the U.S., where organic revenue growth has accelerated, Sir Martin said. The recovery in Western Europe is still slower though and is likely to remain slow for a while, he added.
There are some clouds on the horizon... people are starting to be nervous again," he said, adding however that there are no signs yet that such new fears are impacting WPP's business. "The caution is a good thing though because when there's caution, people do something about it."
Last month, WPP acquired the entire issued share capital of Midia Digital and I-Cherry, two digital agencies in Brazil, specializing in digital marketing and search marketing respectively. "We'll continue to do such things," he said.
Markets have improved across regions though, with the biggest turnaround in the U.S., where organic revenue growth has accelerated, Sir Martin said. The recovery in Western Europe is still slower though and is likely to remain slow for a while, he added.
There are some clouds on the horizon... people are starting to be nervous again," he said, adding however that there are no signs yet that such new fears are impacting WPP's business. "The caution is a good thing though because when there's caution, people do something about it."
Last month, WPP acquired the entire issued share capital of Midia Digital and I-Cherry, two digital agencies in Brazil, specializing in digital marketing and search marketing respectively. "We'll continue to do such things," he said.
Tuesday, June 1, 2010
After Buying Up Online-Ad Specialists, Publicis CEO Seeks to Make Them Grow
http://online.wsj.com/article/SB10001424052748703406604575278763523517680.html
"There is nothing big left to buy," Mr. Lévy, chief executive of Publicis, said in an interview Monday.
"However, digital advertising still heralds many unknown opportunities."
Mr. Lévy's 23-year tenure as head of Publicis has been marked by aggressive acquisitions. In recent years, those deals have been focused on digital advertising, as companies have shifted more ad spending to the Internet and away from conventional media like print and television.
Publicis bought the online-marketing business Digitas for $1.3 billion in 2007. It bought search-marketing business Performics from Google Inc. in 2008. Last summer, it paid Microsoft Corp. $530 million for Razorfish, the last big digital agency up for grabs.
In 2009 Publicis made more than a quarter of its €4.52 billion ($5.55 billion) revenue from digital ads, more than its Dublin-based rival WPP PLC or U.S behemoth Omnicom Group Inc.—respectively the world's biggest and second-biggest advertising agencies, ahead of No. 3 Publicis.
Industry analysts agree that digital advertising will be a major growth driver. But they say that marketers still need to crack how to make bigger profits by better targeting audiences and measuring the impact of ads.
"The benefit in the short term is that [digital] is faster growing," says Thomas Singlehurst, an analyst at Citigroup. "But are the returns in digital the same as those in traditional marketing services? These are slight unknowns."
"There is nothing big left to buy," Mr. Lévy, chief executive of Publicis, said in an interview Monday.
"However, digital advertising still heralds many unknown opportunities."
Mr. Lévy's 23-year tenure as head of Publicis has been marked by aggressive acquisitions. In recent years, those deals have been focused on digital advertising, as companies have shifted more ad spending to the Internet and away from conventional media like print and television.
Publicis bought the online-marketing business Digitas for $1.3 billion in 2007. It bought search-marketing business Performics from Google Inc. in 2008. Last summer, it paid Microsoft Corp. $530 million for Razorfish, the last big digital agency up for grabs.
In 2009 Publicis made more than a quarter of its €4.52 billion ($5.55 billion) revenue from digital ads, more than its Dublin-based rival WPP PLC or U.S behemoth Omnicom Group Inc.—respectively the world's biggest and second-biggest advertising agencies, ahead of No. 3 Publicis.
Industry analysts agree that digital advertising will be a major growth driver. But they say that marketers still need to crack how to make bigger profits by better targeting audiences and measuring the impact of ads.
"The benefit in the short term is that [digital] is faster growing," says Thomas Singlehurst, an analyst at Citigroup. "But are the returns in digital the same as those in traditional marketing services? These are slight unknowns."
Thursday, May 6, 2010
Interpublic Group Posts Narrower Loss
http://online.wsj.com/article/SB10001424052748703572504575213913097932210.html?mod=WSJ_business_whatsNews
Interpublic Group of Cos., still struggling to recover from the recession's flight of ad-spending dollars, reported a loss for the first quarter that was only slightly narrower than a year earlier. The company was hampered by several key account losses that are expected to weigh on its earnings this year.
McCann WorldGroup, Interpublic's largest unit, lost business on lucrative accounts such as Microsoft Corp., Intel Corp., and Verizon Wireless.
Interpublic Group of Cos., still struggling to recover from the recession's flight of ad-spending dollars, reported a loss for the first quarter that was only slightly narrower than a year earlier. The company was hampered by several key account losses that are expected to weigh on its earnings this year.
McCann WorldGroup, Interpublic's largest unit, lost business on lucrative accounts such as Microsoft Corp., Intel Corp., and Verizon Wireless.
Tuesday, March 9, 2010
WPP profits fall after 'brutal' 2009
http://news.bbc.co.uk/2/hi/business/8550971.stm
The world's biggest advertising group, WPP, saw profits fall by 11% to £663m ($1bn) in 2009 as the economic downturn bit hard into its business.
Chief executive, Sir Martin Sorrell, told the BBC that last year the firm had been "staring into the abyss".
He added that the corner had now been turned and that after cutting 14,000 staff last year - about one in 10 workers - it was now hiring again.
The world's biggest advertising group, WPP, saw profits fall by 11% to £663m ($1bn) in 2009 as the economic downturn bit hard into its business.
Chief executive, Sir Martin Sorrell, told the BBC that last year the firm had been "staring into the abyss".
He added that the corner had now been turned and that after cutting 14,000 staff last year - about one in 10 workers - it was now hiring again.
Omnicom Group Creates Network of Retail Experts
http://promomagazine.com/retail/news/0304-omnicom-creates-network/
Omnicom Group has created a national network of retail experts that will be available to various retail industries, such as quick-service restaurants, telecommunications providers, insurance, financial services companies and automotive companies.
Geographically, Retail 3 has 40 people in the field and the ability to activate and execute in all 210 designated market areas across the country, the agency said.
http://www.detnews.com/article/20100302/BIZ/3020337/1001/biz
A new national advertising agency has opened in the former home of Chrysler's ad house BBDO Worldwide in Troy.
Retail 3 (which stands for Retail Strategy, Retail Activation and Retail Metrics) has taken on close to three dozen former BBDO staffers, including President Harold Kobakof, who served as chief retail officer at BBDO. Both companies are owned by New York-based Omnicom Group Inc.
Retail 3 is seeking clients in retail and other sectors including quick-service restaurants, telecommunications, insurance, financial services and automotive. The company is working with Smart USA and Gateway International Raceway in St. Louis. From The Detroit News: http://www.detnews.com/article/20100302/BIZ/3020337/1001/biz#ixzz0hjg9tPG1
Omnicom Group has created a national network of retail experts that will be available to various retail industries, such as quick-service restaurants, telecommunications providers, insurance, financial services companies and automotive companies.
Geographically, Retail 3 has 40 people in the field and the ability to activate and execute in all 210 designated market areas across the country, the agency said.
http://www.detnews.com/article/20100302/BIZ/3020337/1001/biz
A new national advertising agency has opened in the former home of Chrysler's ad house BBDO Worldwide in Troy.
Retail 3 (which stands for Retail Strategy, Retail Activation and Retail Metrics) has taken on close to three dozen former BBDO staffers, including President Harold Kobakof, who served as chief retail officer at BBDO. Both companies are owned by New York-based Omnicom Group Inc.
Retail 3 is seeking clients in retail and other sectors including quick-service restaurants, telecommunications, insurance, financial services and automotive. The company is working with Smart USA and Gateway International Raceway in St. Louis. From The Detroit News: http://www.detnews.com/article/20100302/BIZ/3020337/1001/biz#ixzz0hjg9tPG1
Tuesday, March 2, 2010
Meredith Builds Up a Sideline in Marketing
http://online.wsj.com/article/SB20001424052748703510204575085752704563926.html#mod=todays_us_section_b
Over the past few years, the magazine publisher has bought up a series of digital-ad agencies, forming a full-service marketing shop. Called Meredith Integrated Marketing, the operation has created custom publishing, email, social media and mobile campaigns for major marketers, including Kraft Foods, Chrysler and Wells Fargo. It recently recruited digital-ad veteran Martin Reidy to lead its marketing arm, and says it is on the prowl for more acquisitions.
Meredith increasingly competes head to head for business with big advertising companies, which also have been pouring resources into developing digital marketing and consumer-research capabilities. Chrysler, for instance, recently picked Meredith to solicit prospective consumers via direct mail, email marketing and social media. Omnicom Group's BBDO previously handled that work.
Such business has provided new streams of revenue for Meredith, and is proving to be something of a lifeline amid the industrywide decline in print-advertising revenues. As its magazine-ad revenue plunged 15% from a year earlier to $530.2 million in the fiscal year ended June 30, revenue tied to Meredith's integrated-marketing business rose 13%. The unit has revenue of roughly $175 million, according to a person familiar with the matter.
"Look at the marketing and media landscape today, you are seeing a dramatic reshaping," says Jack Griffin, president of Meredith's National Media Group. "I don't think there is any way around the fact that companies like ours that are media-and-marketing companies have to be proficient in and capable at this craft."
"Meredith is pretty far ahead of everybody else," says Linda Gridley, chief executive of New York investment bank Gridley & Co., which specializes in mergers and acquisitions in the marketing and Internet industries. "It's an area that multiple media companies are now looking at."
Over the past few years, the magazine publisher has bought up a series of digital-ad agencies, forming a full-service marketing shop. Called Meredith Integrated Marketing, the operation has created custom publishing, email, social media and mobile campaigns for major marketers, including Kraft Foods, Chrysler and Wells Fargo. It recently recruited digital-ad veteran Martin Reidy to lead its marketing arm, and says it is on the prowl for more acquisitions.
Meredith increasingly competes head to head for business with big advertising companies, which also have been pouring resources into developing digital marketing and consumer-research capabilities. Chrysler, for instance, recently picked Meredith to solicit prospective consumers via direct mail, email marketing and social media. Omnicom Group's BBDO previously handled that work.
Such business has provided new streams of revenue for Meredith, and is proving to be something of a lifeline amid the industrywide decline in print-advertising revenues. As its magazine-ad revenue plunged 15% from a year earlier to $530.2 million in the fiscal year ended June 30, revenue tied to Meredith's integrated-marketing business rose 13%. The unit has revenue of roughly $175 million, according to a person familiar with the matter.
"Look at the marketing and media landscape today, you are seeing a dramatic reshaping," says Jack Griffin, president of Meredith's National Media Group. "I don't think there is any way around the fact that companies like ours that are media-and-marketing companies have to be proficient in and capable at this craft."
"Meredith is pretty far ahead of everybody else," says Linda Gridley, chief executive of New York investment bank Gridley & Co., which specializes in mergers and acquisitions in the marketing and Internet industries. "It's an area that multiple media companies are now looking at."
Monday, February 15, 2010
Omnicom CEO John Wren: 'Worst of the Recession Behind Us'
http://adage.com/agencynews/article?article_id=142032
Despite another double-digit profit decline last quarter at Omnicom Group, CEO John Wren believes the ad industry has finally made it through the worst of the recession.
"As economies improve, we believe the worst of the recession and its impact is behind us," Mr. Wren said on the company's fourth-quarter earnings call this morning. "While not all of our clients have finalized their 2010 budgets, we anticipate that many will at least modestly increase spending in the second half of this year."
Despite another double-digit profit decline last quarter at Omnicom Group, CEO John Wren believes the ad industry has finally made it through the worst of the recession.
"As economies improve, we believe the worst of the recession and its impact is behind us," Mr. Wren said on the company's fourth-quarter earnings call this morning. "While not all of our clients have finalized their 2010 budgets, we anticipate that many will at least modestly increase spending in the second half of this year."
Monday, January 25, 2010
R/GA: Digital Agency of the Year '09
http://www.adweek.com/aw/content_display/special-reports/agency-of-the-year/e3i255b591c91282724ad782cd1eafa0e45?pn=1
Already envied for its work for brands like Nike, Verizon and Nokia, R/GA had a gangbusters new business year in 2009, scooping up major wins with Walmart and MasterCard. It added to its bounty Taco Bell and lead agency duties for Ameriprise Financial. At a time when shops were treading water, R/GA grew 5 percent, laid the groundwork for offices in Singapore and Brazil, and expanded its offices in London and San Francisco.
Already envied for its work for brands like Nike, Verizon and Nokia, R/GA had a gangbusters new business year in 2009, scooping up major wins with Walmart and MasterCard. It added to its bounty Taco Bell and lead agency duties for Ameriprise Financial. At a time when shops were treading water, R/GA grew 5 percent, laid the groundwork for offices in Singapore and Brazil, and expanded its offices in London and San Francisco.
Monday, November 23, 2009
An Advertising Rebound?
http://www.forbes.com/2009/10/30/wpp-advertising-consumers-markets-economy-media.html?partner=yahootix
The company's head, media veteran Martin Sorrell, gave his usual appraisal of the global economy and the advertising world, giving observers the chance to glean small signs of hope: "There is little doubt that consumer and corporate confidence has recovered somewhat from the panic levels of the fourth quarter of 2008 and first quarter of 2009," he said.
"Confidence, however, remains fragile amongst consumers, because of the shadow of high unemployment levels and amongst corporates… Whilst the hearts of CEOs and CMOs are stronger and their minds clearer, increased confidence is still not transferring to their check-writing hands."
The company's head, media veteran Martin Sorrell, gave his usual appraisal of the global economy and the advertising world, giving observers the chance to glean small signs of hope: "There is little doubt that consumer and corporate confidence has recovered somewhat from the panic levels of the fourth quarter of 2008 and first quarter of 2009," he said.
"Confidence, however, remains fragile amongst consumers, because of the shadow of high unemployment levels and amongst corporates… Whilst the hearts of CEOs and CMOs are stronger and their minds clearer, increased confidence is still not transferring to their check-writing hands."
Tuesday, November 10, 2009
Cliff Freeman Slips Into History Books
http://adage.com/abstract.php?article_id=140123
Agency Behind Classic Wendy's Ad and 'Pizza, Pizza' Shutters After 22-Year Run
Agency Behind Classic Wendy's Ad and 'Pizza, Pizza' Shutters After 22-Year Run
Despite Downturn, Bold Moves and New Techniques
http://www.nytimes.com/2009/10/29/business/media/29adco.html?_r=1&ref=media
Among the signs of improvement, or at least a bottoming out, are reports in trade publications like Advertising Age that demand for commercial time on television networks is increasing, even if slightly.
And Maurice Lévy, chief executive at another giant agency company, the Publicis Groupe, predicted on Tuesday that “the advertising market is starting its recovery” and Publicis would begin to see organic revenue growth in the second half of 2010.
In another indication that the worst may be in the rear-view mirror, some well-known executives are taking the risk of opening agencies at a time when many established shops are struggling. One new agency, called Victors and Spoils, is being started by partners who include two former senior managers at Crispin Porter & Bogusky, owned by MDC Partners.
Another is in the form of a New York office for a British agency, Beattie McGuinness Bungay, which is expanding outside London for the first time. The office, staffed with Americans, has its first client, Samsung.
Among the signs of improvement, or at least a bottoming out, are reports in trade publications like Advertising Age that demand for commercial time on television networks is increasing, even if slightly.
And Maurice Lévy, chief executive at another giant agency company, the Publicis Groupe, predicted on Tuesday that “the advertising market is starting its recovery” and Publicis would begin to see organic revenue growth in the second half of 2010.
In another indication that the worst may be in the rear-view mirror, some well-known executives are taking the risk of opening agencies at a time when many established shops are struggling. One new agency, called Victors and Spoils, is being started by partners who include two former senior managers at Crispin Porter & Bogusky, owned by MDC Partners.
Another is in the form of a New York office for a British agency, Beattie McGuinness Bungay, which is expanding outside London for the first time. The office, staffed with Americans, has its first client, Samsung.
Publicis Reports 'Most Terrible' Results, Claims It Is Becoming An 'All-Digital Agency'
Paris-based Publicis Groupe, which currently boasts that 25% of its revenues are derived from digital advertising and media services, ultimately plans to become an "all-digital agency," its Chairman-CEO Maurice Levy said in an interview following the release of its third quarter earnings this morning. http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=116156
Addressing why Publicis appears to be out-performing the results of the other major agency holding companies during the global economic recession, Levy said, "Obviously we have invested a lot in transforming Publicis into an all-digital agency and this is starting to pay. We have very good numbers for growth in digital. And this is something which is offsetting the decrease of some other activities."
"We have no plans to make further large acquisitions. We have plenty of plans to make small acquisitions in two areas. One is everything which has to do with emerging markets. In emerging markets we are interested by agencies, advertising agencies, PR agencies, marketing services, digital - obviously - or media. And we are still interested across the board by digital operations. These acquisitions are very hard to find ; there are not many, and they are not very costly.
Addressing why Publicis appears to be out-performing the results of the other major agency holding companies during the global economic recession, Levy said, "Obviously we have invested a lot in transforming Publicis into an all-digital agency and this is starting to pay. We have very good numbers for growth in digital. And this is something which is offsetting the decrease of some other activities."
"We have no plans to make further large acquisitions. We have plenty of plans to make small acquisitions in two areas. One is everything which has to do with emerging markets. In emerging markets we are interested by agencies, advertising agencies, PR agencies, marketing services, digital - obviously - or media. And we are still interested across the board by digital operations. These acquisitions are very hard to find ; there are not many, and they are not very costly.
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