Zenith's decision to venture into Thailand and beyond comes in the middle of a regional currency and economic crisis that has seen growth forecasts and expectations for the year slashed.
However Zenith Media's Asia CEO Antony Young claims: "This is absolutely the right time to be moving to Bangkok. Markets like Thailand, Malaysia and Indonesia have enormous potential ... we are fast tracking a lot of our expansion."
During the regional economic downturn, "advertisers are looking at maximizing the value of every dollar," he adds. "The economic situation has opened up a lot of opportunity for media specialists."
Since the beginning of this year, Zenith Media has picked up business worth $51.7 million, including Coca-Cola in China; centralized media buying for Hongkong Telecom; hotel/travel outfit the Miramar Group; and the Swire Properties' Festival Walk entertainment complex in Hong Kong.
Details of further regional expansion will be announced later in the year.
Copyright April 1998, Crain Communications Inc.