Describing 2010 as a fantastic year, McLennan says Y&R’s revenues were up nearly 30 per cent year on year, having rebounded to just below 2008 levels.
“From the deepest darkest times of 2009 to see such strong rebound is fantastic, and the good news for us is that Asia has come of age under the leadership of Matt Godfrey.”
McLennan says that year on year, Asia is Y&R’s biggest growth market, up 18 per cent, attributing that growth to strong business wins out of Singapore such as Tiger Beer and Singapore Navy, as well as China Southern Airlines and Gap in China.
Asked about Y&R’s digital strategy, McLennan says that a major focus for the agency globally in 2011 will be the global roll-out of digital offering VML@Y&R.
“What we saw in 2010 was digital becoming central to everything we do… we’re fortunate to have a relationship with VML, which is regarded by Forrester Research as the number one digital company in the US and we’re rolling that out around the world.”
McLennan says that Y&R will have 17 offices announced with that partnership. VML have over 700 people around the world, and Y&R is looking at three or four acquisitions in Asia, and hoping to close two or three of those out within the next six to 12 months.
Y&R’s global partnership with VML was announced back in October 2009.
In October 2010, New Zealand became the first market in Asia-Pacific to open a VML@Y&R office.
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