Lehman Says Advertising Account Activity Is On The Up

Advertising account activity increased again in February, with further reviews in the pipeline, according to the latest edition of Lehman Brothers’ New Business Scorecard.

The broker says that WPP came top of the pile, whilst Omnicom and Publicis were ‘solid’ and Interpublic showed further deterioration in the form a number of major account reviews. Overall, new business activity rose by 27% in February and included major consolidations from Microsoft and Masterfoods.

Lehman says that the review pipeline is accelerating as advertisers continue to shift their focus from costs to growth. The review pipeline was up 14% on January to the highest level yet recorded by the survey.

The indications are of an ever-improving outlook for the advertising industry which should soon start to positively impact on agency revenues, according to analysts.

WPP had a return to form during February with the win of almost $400 million worth of new business. Omnicom and Publicis gained around $130 million of business each; activity for Havas was quieter and Interpublic continues to struggle.

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