BEYOND THE RECESSION By Greg Farrel

Did you hear it? It was louder than the sound of one hand clapping and seemed to pervade the industry in 1992. It was the deafening silence that echoed from Madison Avenue to Mi

The recession technically ended late in ’91, but it was a full year and one defeated incumbent President later that the hand-wringing that goes with reduced ad spending finally dissipated. And the agencies that reacted most quickly to a newer but less forgiving marketplace were the ones most amply rewarded in ’92.
The fastest-growing species, as usual, could be found among smaller, more agile shops that evolved by delivering for one or several key clients.