Initiative (agency)
 | This article contains promotional content. (March 2024) |
 | |
| Industry | Advertising, Marketing |
|---|---|
| Founded | 1970 |
| Headquarters | New York, NY |
Number of locations | Worldwide |
Key people | Dimitri Maex, Global CEO Stacy DeRiso, US CEO[1] |
| Services | Media planning and buying |
| Parent | Interpublic Group of Companies (IPG) |
| Website | initiative.com |
Initiative is an American media planning and buying agency that is part of IPG Mediabrands, the media buying arm of multinational holding company Interpublic Group of Companies.[2] Initiative's roots date back to 1970.[3]
The company is based in New York, NY, with additional offices worldwide.[4] Dimitri Maex is the company's Global CEO, and Stacy DeRiso is US CEO.[1]
The company is famous for their innovative marketing framework Fame & Flow, and for winning double Agency of the Year Awards in 2023 from AdAge and Adweek. [1]
History
[edit]One of the two main predecessors of Initiative, Western International Media, was founded in 1970 by Dennis Holt. It was one of the first agencies dedicated exclusively to media buying.[3]
In 1986, Western International Media won The Walt Disney Company account, a watershed moment in its history.[3] It would keep the account until 2001.[5]
In 1994, the company was acquired by Interpublic Group of Companies (IPG).[3]
In 1998, IPG combined Western International Media of Los Angeles with IPG's European media buying network, Paris-based Initiative Media Worldwide. The new combined agency was called Western Initiative Media Worldwide.[6] The NY Times reported at the time that the new entity would have 75 offices in 35 countries, and handled an estimated $10 billion in billings, making it the largest media buying agency in the world.[7] The company's US business was managed out of Los Angeles, and the international operations were managed out of Paris.[7]
In February 2000, the company changed its name to Initiative Media.[8] In July, Initiative Media acquired PIC TV, at the time the largest source of promotional TV advertising spots in the United States.[9]
In January 2017, IPG merged its third largest media buying network, Brand Programming Network (BPN), with Initiative Media, which was at the time IPG's second largest media buying network.[2]
In November 2017, ecommerce company Amazon selected Initiative to manage global media planning and buying for Amazon's ecommerce hub, tech products and Amazon Prime subscription services.[10] In the same month, Danish toy company The Lego Group selected Initiative as its global media agency.[11]
In April 2018, Amazon also awarded its Amazon Studios business to Initiative.[12]
In February 2019, Initiative was named as the media agency for gaming company Nintendo.[13] Also in FebruaInsthe same month, named trade publication AdWeek's Media Agency of the year.[14] In April, trade publication Ad Age named Initiative its comeback agency of the year.[15]
Global offices
[edit]Initiative is based in New York City, and holds additional offices in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.[4]
Clients
[edit]Initiative's media buying clients over the years have included Amazon, Walt Disney Company, The Lego Group and Nintendo.[12][3][11][13]
Cultural velocity
[edit]The agency created the concept of "cultural velocity", a measure of cultural relevance that refers to the speed with which the agency's customers respond and react to cultural data, in order to remain relevant to consumers and improve sales.[16]
References
[edit]- ^ a b c "IPG Mediabrands Names Dimitri Maex Global CEO of Initiative". businesswire.com. 2022-04-19. Retrieved 2022-04-19.
- ^ a b "IPG Mediabrands to Fold BPN Worldwide into Initiative". adweek.com. 2017-01-06. Retrieved 2019-02-19.
- ^ a b c d e "Media Buying and Planning: Western International Continues as Media Leader: Burgeoning Media Industry Vindicates Holt's Novel Idea". adage.com. 1998-08-03. Retrieved 2019-02-19.
- ^ a b "Company Overview of Initiative Media Inc". bloomberg.com. Retrieved 2019-02-20.
- ^ "Initiative Withdraws From Disney Review". adweek.com. 2001-12-20. Retrieved 2019-02-19.
- ^ "IPG Mediabrands to Fold BPN Worldwide into Initiative". Los Angeles Times. 1998-10-06. Retrieved 2019-02-19.
- ^ a b "THE MEDIA BUSINESS: ADVERTISING -- ADDENDA; Interpublic Combines 2 Media Service Units". The New York Times. 1998-10-08. Retrieved 2019-02-19.
- ^ "Western Initiative Media announces a new name". adage.com. 2000-02-21. Retrieved 2019-02-19.
- ^ "Initiative Buys PIC TV". adweek.com. 2000-07-17. Retrieved 2019-02-19.
- ^ "Amazon Consolidates Its $1 Billion-Plus Global Media Buying Business With IPG Mediabrands". adweek.com. 2017-11-01. Retrieved 2019-02-19.
- ^ a b "A 'Digital-First' Agency for an Analog Toy: Lego Taps Initiative for Global Media". adage.com. 2017-11-27. Retrieved 2019-02-19.
- ^ a b "Initiative L.A. Wins Amazon Studios Media Business as IPG Consolidates the Larger Amazon Account". adweek.com. 2018-04-12. Retrieved 2019-02-19.
- ^ a b "Nintendo taps Initiative as media agency in the U.S." adweek.com. 2019-02-12. Retrieved 2019-02-19.
- ^ "Inside U.S. Media Agency of the Year Initiative's Remarkable 2018 Turnaround". adweek.com. 2019-02-24. Retrieved 2019-05-29.
- ^ "Ad Age 2019 Comeback Agency of the Year: Initiative". adage.com. 2019-04-15. Retrieved 2019-05-29.
- ^ "The kids are all right: Gen X rules Initiative's reverse upfront". adage.com. 2019-04-17. Retrieved 2019-05-29.