MILAN--The concentration of Italian advertising agencies and the loss of just under 200 jobs since 1991 due to a severe restructuring in the industr" />
MILAN--The concentration of Italian advertising agencies and the loss of just under 200 jobs since 1991 due to a severe restructuring in the industr" /> Testa stays on top of shifting biz in Italy <b>By Fabiana Giacomott</b><br clear="none"/><br clear="none"/>MILAN--The concentration of Italian advertising agencies and the loss of just under 200 jobs since 1991 due to a severe restructuring in the industr | Adweek Testa stays on top of shifting biz in Italy <b>By Fabiana Giacomott</b><br clear="none"/><br clear="none"/>MILAN--The concentration of Italian advertising agencies and the loss of just under 200 jobs since 1991 due to a severe restructuring in the industr | Adweek
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Testa stays on top of shifting biz in Italy By Fabiana Giacomott

MILAN--The concentration of Italian advertising agencies and the loss of just under 200 jobs since 1991 due to a severe restructuring in the industr

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Armando Testa retained its No. 1 position among the ad agencies here, with billings growth of 16% to $386.6 million in 1992. The shop outpaced the ad industry as a whole, which according to A.C. Nielsen grew at a rate of 9%.
Though it admits it is too early to call it a trend, Assap has begun tracking an increase in spending this year.
"Nielsen data for January 1993 marks a 6% growth in advertising spending with respect to the same period in 1992, but due to the recession and the clients' tendency to cut accounts, it is not possible to make any estimate," said Assap president Alberto Contri. "Each agency is forced to trim its sails according to the wind."
Armando Testa was once again followed by Publicis FCB/MAC, with $350.1 million in billings and 12% growth. McCann-Erickson placed third, followed by Young & Rubicam. J. Walter Thompson takes fifth place at the expense of Saatchi & Saatchi, which turned in the worst performance among Italy's top 10 shops in 1992 with $172.1 million in billings--a 10.5% decline in billings primarily from the same client cutbacks that have hit the network.
Copyright Adweek L.P. (1993)