ADVERTISING NETWORK OF THE YEAR 2014: GREY
With lots of money coming in and tremendous creative work going out, Grey has completed a remarkable transformation many in the industry thought unimaginable only a few years ago.
By Campaign Magazine Staff | December 11, 2014
Five years ago, who would have imagined a time when Grey would be crowned Campaign’s Advertising Network of the Year? Yet here we are. The network, which wags have claimed since time immemorial was eponymous, has been on a transformational journey over the past few years. In 2014, it really hit its stride.
Grey enjoyed its seventh year of record financial and creative performance worldwide. Revenues increased 5 per cent to $761 million, with operating profit up 15.3 per cent. And the network retained its top ranking in revenue growth against its sister agencies Ogilvy & Mather, JWT and Y&R, according to the latest WPP benchmarks.
The growth was achieved through a mixture of new business ($740 million across the network) and expansion of existing client relationships – revenue from its top 20 clients increased by an average of 14 per cent year on year. This included its biggest client, Procter & Gamble, up by 10 per cent; HSBC (a newish client), up by 90.9 per cent; Hasbro, up by 218.3 per cent; and Kellogg, up by 20.4 per cent.