Word: saatchi
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Investors had barely settled into their chairs at the annual meeting in London of Saatchi & Saatchi, the world's largest advertising agency, when Chairman Maurice Saatchi unloaded his uncomfortable secret. The firm's profits, he said, will slump during 1989 for the first time since the agency was founded 19 years ago. Said he: "It's going to be a tough year." Stunned by the abrupt reversal at the juggernaut company, analysts slashed their predictions of its 1989 profits from $280 million to about $165 million. The company's stock plunged, falling more than...
...Maurice Saatchi attributed the setback to a falloff in the firm's consulting business, along with a decline in U.S. advertising spending. But many investors suspect that the British firm's overall strategy of pell-mell growth, including the takeover of the Ted Bates Worldwide agency for $450 million in 1986, may have created an unmanageable corporate sprawl. After many of Saatchi & Saatchi's takeovers, the acquired firms have lost both executives and clients. Last week's announcement suggests that for Saatchi & Saatchi, building an empire was easier than ruling...
Most of these shows do quite well in the ratings. But as the Married . . . With Children flap demonstrated, ratings are not everything, even along Madison Avenue. "What Married . . . With Children has done is make everybody take a sharper look at standards," says Betsy Frank, a senior vice president of Saatchi & Saatchi advertising. NBC, under attack for its low-road programming, is re-creating the position of vice president of program standards and policy, eliminated last year for budgetary reasons. The network is also setting up meetings with ad executives to explain its policy for screening out offensive material...
...networks produced the announcements with recent research by Saatchi & Saatchi DFS Compton, an ad agency, in mind. Saatchi & Saatchi's pro bono work for the Project found that young adults often view the designated driver as a "repressive parental figure." Saatchi & Saatchi suggested that the networks portray the driver as "cool...a guy who can party down," says Dr. William DeJong, director of research for Harvard's Center for Health Communication...
...advertising industry, small shops are thinking big these days. Fast- moving and feisty, the upstarts are luring a growing share of blue-chip accounts away from the Madison Avenue behemoths. While agencies like Manhattan's Young & Rubicam (1987 billings: $4.9 billion) and London's Saatchi ) & Saatchi ($4.6 billion) have tried to dominate the business by taking over competitors, firms less than one-tenth their size are attracting large ad accounts to such off-the-avenue cities as Boston and Minneapolis. In mid- August the Richards Group of Dallas ($97 million) snared the $15 million account for the Long John Silver...