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Advertising Industry Overview: Got Mass? Jul 00
Standard & Poors, July 2000
Abstract
Global advertising is a highly dynamic, competitive, and rapidly consolidating business. A number of trends have been affecting the industry in recent years. One of the most significant of these is growing consolidation. Mergers among major clients, the need for large scale to better serve multinational accounts, and the need to own multiple advertising agency networks in order to avoid client conflict issues have been driving forces in advertising agency acquisitions. The most notable combinations include The Leo Group's merger with MacManus Group and, more recently, WPP Group PLC's planned acquisition of Young & Rubicam Inc. and Publicis S.A.'s announced acquisition of Saatchi & Saatchi PLC. Important success factors for industry players are breadth and depth of service offerings, critical...
Companies mentioned in this report are: Omnicom Group Inc.,WPP 2008 Ltd.,DoubleClick Inc.,Interpublic Group of Cos. Inc.,Young & Rubicam Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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