LONDON (Brand Republic) 鈥 Aegis Group, which owns the Carat media buying network, claims the $1.85bn in new advertising contracts won in the first 10 months of 2000 will protect it from the slowdown in advertising spending, which is forecast for next year.
Aegis鈥 billings for 2000 top the 1999 figure of $1.2bn, and include mainly European wins from clients such as Renault, Bertelsmann and LVMH Moet Hennessey Louis Vuitton SA. Renault, which joined the client list in September, is expected to spend $700m each year in European media.
A spokesman for Aegis said: 鈥淭he group expects to continue to increase its market share in both advertising and research in all regions.鈥
This is despite the expected fall in advertising spending for next year due to reduced margins in many sectors.