Indiantelevision.com Team

(13 February 2009 8:00 pm)

MUMBAI: Adweek has named Initiative, a part of Interpublic Group, the 2008 US Media Agency of the year. According to Adweek, the title was bestowed onto the agency for being consistent in creating new clients, reaffirming the faith of existing ones, smooth management transition, innovative campaigns and substantial revenue growth.

Initiative Worldwide CEO Richard Beaven said, “The past year has been Initiative's best ever. The reengineering that took place from the end of 2005 through 2008 was about ‘taking the long-term view and changing the agency for good’. The restructuring has been working for us very well.”

According to Adweek research, in 2008, Initiative won close to $1.5 billion in new US billings, most of it from three clients in showcase categories: Korean carmaker Hyundai/Kia ($800 million), brewer MillerCoors ($400 million) and soft-drink marketer Dr Pepper Snapple Group ($140 million). New business and organic growth combined to boost revenue in the US by 22 percent to $345 million.

The research further stated that Initiative not only excelled at winning new accounts in 2008, but defended key assignments and capitalised on major opportunities to both defend and expand duties with existing clients, as it did in the MillerCoors consolidation review (Miller and Coors merged in July). Initiative had been the buyer on the smaller brand, Coors, and won Miller in November from the incumbent agency, Publicis Groupe's Starcom.