Advertising agency account business remained strong during January, with activity up 7% year on year, according to the latest New Business Scorecard from Lehman Brothers. This strength continues from December, when the number of account moves rose by 40% year on year (see Publicis Tops 2003 New Business League).
Omnicom and Publicis had a good month for new business, whilst Havas was down slightly and WPP suffered from the loss of the Burger King account.
The broker says that the amount of advertising activity in general is now beginning to rise and the number of reviews in the pipeline is up by 20% to record levels.
“We believe the trend remains upward as companies reassess their marketing plans as the advertising outlook improves, underpinning our positive stance on the sub-sector,” says the report.
