New DM Accounts and Acquisitions Mark Year for Gray Advertising
Gray Advertising, New York, had gross billings for the fourth quarter of 1999 reached $2.1 billion, up 25% from the same quarter in 1998. Income from commissions rose by a like percentage to $316.3. For the full fiscal year, gross billings increased to $7.1 billion, and income from commissions and fees passed the billion dollar mark and came in at just under $1.1 billion for the year. Year-end net income was $6.4 million, compared with $25.9 million in 1998.
The quarter and the year ended Dec. 31.
Each of the company’s DM-related divisions made several operational changes. Grey Direct acquired KGM, a Swedish database management company, and launched MarketData Solutions, a new global database marketing company with more than $25 million in billings and offices in five countries.
Grey Interactive acquired majority ownership of Module Communications Ltd., one of the UK’s leading new media agencies.
Parent company Grey Advertising acquired Beyond Interactive with offices in New York, San Francisco and Ann Arbor, one of the largest on-line advertising solutions agencies in the United States.
The company’s direct and interactive divisions won several accounts during the year. In the e-commerce marketplace, the company won several new integrated communications Dot.com accounts, including: Americangreetings.com; Kforce.com; GiftCertificates.com; Edificerex.com; GoAmerica.com; E*Trade Canada; Yupi.com; ShopSmart.com; Healingonline.com; and Orientation.com.
Grey Direct, the Company’s global direct response company, gained the Web TV, MyPoints.com, Liberty Mutual Insurance and New York Life accounts.
Grey Interactive, which specializes in the design and implementation of interactive site development and e-commerce solutions, won a number of major assignments including the responsibility for Wal-Mart’s on-line initiatives and significant portal executions for Mars, Inc.’s confection and pet product businesses.
Beyond Interactive, full service interactive advertising agency whose newest clients include Oracle, Americangreetings.com, PlanetRx.com, HyperBannner, Petstore.com, Kforce, GOTO.com, Mail.com, Thirdage.com, Classmates.com, and Individual.com.
