NEW YORK: Independent agency network PROI Worldwide reported a 10% increase in net fee income to $421 million last year, up from $382 million in 2011.
Asia-Pacific and the Americas saw “substantive” growth in 2012, while the network's revenue in the EMEA region was flat due to an unfavorable economic climate, said Bob Frause, worldwide chair of PROI and chairman and CEO of Seattle-based firm Frause.
Growth was also driven by additional revenue from PROI's new agency partners, which include Russian firm AGT Communications, Premier Public Relations in Hungary, and Gage Marketing in Minneapolis, Frause said.
“There is a realization that to fuel even more growth, a close affiliation with other independent agencies in growing markets, and even flat markets such as EMEA, is a solid strategy,” he said.
PROI, which is comprised of 60 agency partners in 44 countries, plans to expand its footprint in Asia-Pacific, Africa, Europe, and Latin America, Frause said. It is “aggressively pursuing” more than 30 new firms worldwide over the next 18 months, he added.
Founded in 1970, PROI is the largest independent agency network in terms of fee income, but not agency member numbers.