The Serviceplan Group reported a fee revenue of $803 million for the fiscal year 2022/2023 ending in June. This marks a significant 19% increase from the previous year. This growth occurred in what was predicted to be a 鈥渉igh-risk year鈥 for the advertising industry, with high inflation rates, consumer restraint, and reduced client budgets amidst ongoing political and economic uncertainties.
Bucking the Trend: Serviceplan Group Continues to Grow
Serviceplan Group CEO Florian Haller puts the current numbers into perspective: 鈥淭he fact that we were able to hold our own so well in the current difficult environment, and close our financial year with a definitive growth in revenue, clearly fills me with immense pride.鈥
鈥淲e were able to make significant progress with digitalization across all agency brands. By taking important steps in the internationalisation of the agency group, we have also significantly expanded our global footprint, and consequently raised our international profile. Awards such as 鈥業ndependent Network of the Year鈥 at Cannes Lions in 2022 and 鈥楪lobal Independent Network of the Year鈥 at LIA prove this.鈥
In addition to Serviceplan Group鈥檚 continued internationalisation, which was driven further in the 2022/2023 financial year by launching Serviceplan Americas, Florian cites the integrated agency concept as the third contributing factor to success and growth in the fiscal year: 鈥淲e are growing because we are able to offer complete end-to-end solutions for our clients.鈥
Pereira O鈥橠ell co-founder & Serviceplan Americas CEO, Andrew O鈥橠ell, added, 鈥淲e鈥檙e proud to have the backing of Serviceplan Group behind us at Serviceplan Americas. This year鈥檚 growth proves that our model is successful, despite a really challenging economic climate.鈥
鈥淭he minority acquisition of L&C NYC, in particular, has contributed to so much of our success this year. L&C was awarded #3 on the Drum鈥檚 Global Creative Ranking and walked away from this award season with unprecedented success,鈥 said Andrew.
Our Outlook for 2023/2024: Cautiously Optimistic
Florian Haller believes that Serviceplan Group is well positioned to meet challenges in the future. 鈥淢arketers today face highly complex business challenges that require creative solutions at a more rapid rate than ever before. We will confront all of these challenges with our agility, innovation, collaborative spirit, and genuine curiosity for new things,鈥 said Florian.
鈥淥n the one hand, we are meeting our clients鈥 growing demand for digital experience and technology services, whilst at the same time addressing the enormous shortage of skilled workers in this sector. In this way, international collaboration makes the services we provide at Serviceplan Group even more attractive for our clients,鈥 said Florian.
鈥淭he Americas agency market was ripe for a reset, so bringing the Serviceplan Group model here felt like a natural evolution. We鈥檙e proud of the financial success we鈥檝e seen this year internationally, and we look forward to continuing to contribute to that growth here in the Americas.鈥 said Andrew O鈥橠ell.