Advertising giant M&C Saatchi is firmly zooming in on the US market, the company’s global CEO, Moray MacLennan, told City A.M. this morning.
While acknowledging South Asia as a region for growth, MacLennan revealed that “the real opportunity for growth, for us, is the US for one very simple reason.”
“It’s not our largest operation, but it’s the largest market so the head room is definitely there for growth,” the head of Saatchi explained.
“You know, 35-40 per cent of the world’s advertising is in the US,” he added.
The drive to push growth particularly in the US is across the company’s operations, according to the Saatchi CEO.
He said: “Across all five of our divisions we’ve got plans to really focus on the US over the next two years.”
In the latest financial report published today, although the advertising behemoth saw net revenue rise 14.2 per cent to £118m globally, in the Americas net revenue experienced a decline of four per cent from £19.5m in the first half of 2020 to £18.8m for the same period this year.
Its headline operating profits increased though by 43 per cent to £3m for the Americas region.