BUILDING ON A BEVY OF GOOD NEWS: Y&R ADVERTISING -- AGENCY RATING: 3-1/2 STARS

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While Y&R captured the Global Agency Network of the Year award (see story on Page S-12), its success in the U.S. is a key part of the bigger story.

Y&R won Sony Corp., Cadbury Schweppes, Danone, a new AT&T Corp. assignment (Lucky Dog Phone Co.), Kraft Foods and MGM Grand business, for an estimated 12% growth in new billings. Losses included the Blockbuster Entertainment and International Home Foods accounts.

Y&R's creative output was also on the upswing last year.

The Pella Windows Rolscreen creative effort was funny and effective (Y&R claimed Pella beat its sales goals for the new product by 80%); Molson won laughs with the Canadian McKenzie brothers; and the Dupont Silverstone newlyweds offered a new reason to use non-stick cookware.

The agency's much anticipated public offering was well-received, raising almost $800 million during the year.

LOOKING AHEAD

Parent Young & Rubicam is famous for translating assignment work into account wins; that should continue in 1999. Also expect Y&R to continue its expansion into multicultural marketing and advertising.

Management stabilitiy is key to the future, but somewhat in question. The IPO created a group of retiring millionaires, so successful transitions will be a

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