Against all the Odds of a High-risk Year": Serviceplan Group Records Impressive 19% Growth globally, and More than 30 % in the Middle East

Dec. 21, 2023

The Serviceplan Group, incorporating agency brands such as Serviceplan, Mediaplus, and Plan.Net, and operating across 17 global markets, reported a fee revenue of 739 million euros for the fiscal year 2022/2023 ending in June. This marks a significant 19% increase from the previous year's 623 million euros.

Regionally, Serviceplan Group Middle East has witnessed substantial success, growing by more than 30% in the last year alone. Notably, this growth occurred in what was predicted to be a “high-risk year” for the advertising industry(²), with high inflation rates, consumer restraint, and reduced client budgets amidst ongoing political and economic uncertainties.

• Bucking the Trend: Serviceplan Group Continues to Grow

Serviceplan Group CEO Florian Haller puts the current numbers into perspective:

“The fact that we were able to hold our own so well in the current difficult environment and close our financial year with a definitive growth in revenue, clear plus fills me with immense pride.”

 

Haller cites the “Houses of Communication” concept as a key contributing factor to success and growth in the fiscal year:

“We are growing because we are able to offer complete end-to-end solutions for our clients. Thanks to the interplay of Creative & Content, Media & Data, and Digital Experience & Technology at our Houses of Communication, we are competitive, unique, and ultimately successful.”

 

After being crowned ‘Independent Agency of the Year 2022’ at Dubai Lynx, Serviceplan Group Middle East has continued to work closely with clients, established and new, to create ÜberCreative work across the board.

Natalie Shardan, Managing Partner at Serviceplan Middle East:

“We kicked off our new partnership with the Department of Culture and Tourism – Abu Dhabi with a summer smash, but our year of outstanding creative collaborations didn’t end there. We continued to create impactful campaigns with our existing clients as well, such as our ‘Forwardism Comes Home’ film with BMW, ‘The Lane Change Song’ with Bridgestone, and many more.” 

 

• Expansion within the region: Recognizing growth potentials in Saudi Arabia and remotely across the region.

With the beginning of the fiscal year 2022/2023, over a year ago, we started a significant expansion of our operations in the Middle East. Having established a strong presence in Dubai since 2010, the company has decided to reinforce its commitment to the region by opening new offices in Riyadh and Jeddah, Saudi Arabia.

Recognizing the immense growth potential and opportunities within the Kingdom of Saudi Arabia, Serviceplan Group has strategically operationalized vital hubs in Riyadh and Jeddah, with a dedicated team of about 20 experts now thriving between both offices.

Rami Hmadeh, Managing Partner at Serviceplan Group Middle East and the CEO of Serviceplan Arabia, the new agency established specifically for Saudi Arabia, said:

"We are excited about this significant expansion into the Saudi Arabian market. Our goal is to provide our clients with the best-in-class advertising and communication services, and establishing a physical presence in Saudi Arabia was a key step towards achieving this objective. With our experienced team on the ground, we are well-equipped to meet the diverse needs of the Saudi market with the unique mix of the German DNA, international expertise of all our Houses of Communication across the globe together with the understanding of the local nuances of the Saudi Market.”

 

Azhar Siddiqui, Managing Partner at Mediaplus Middle East adds:

“We also established our performance hub in Beirut, Lebanon to serve the increasing need for specialized performance marketing for our clients.  Leveraging the opportunity provided by remote working technologies, we are able work across the three geographic locations deriving the best value from each to give our clients one seamlessly integrated solution."

 

• Talents as Growth Enablers

 Frances Bonifacio, Head of Strategy and Director HR:

“At Serviceplan Group, people remain the backbone of our growth and we are proud to say that we are well on our way to fulfilling our ambition of building a powerhouse of talents teeming with ideators, innovators, and collaborators all across our hubs in the region.”

 

 Akhilesh Bagri, Chief Creative Officer:

Creative talent is at the core of this ambition. “Our appetite for learning has not waned and so we continue to pursue talents who can challenge and refresh our way of thinking, both creatively and strategically. That we have sourced talents from across continents is testament to this DNA of constant innovation. We move forward in 2024 fuelled with optimism and confidence and look forward to firming our positing as the independent challenger agency!”

 

• Annual Fiscal Year Report: background information

Since the 2022/2023 financial year, the Serviceplan Group has been collecting the agency group’s fee revenue from a global brand perspective. An overarching view of the brands Serviceplan (incl. Saint Elmo’s), Mediaplus (incl. Facit), Plan.Net (incl. The Marcom Engine), and others (HoCs, other companies) creates a clearer picture, and the international setup of the agency group is reflected in the balance sheet figures.