Bozell Worldwide eyes Indonesian ad market

JAKARTA (JP): Bozell Worldwide, a major U.S. advertising company, will set up a joint venture next year with PT Dian Mentari Pratama, Bozell Worldwide's chairman for Asia-Pacific operations, Michael Anderson.

"We see a bright prospect of the advertising market in Indonesia, particularly in the run-up to the implementation of free trade in the region," Anderson said after officially opening Pratama's new Rp 1 billion (US$425,500) office here over the weekend.

He said that Indonesia has seen encouraging growth in its economy due to the government's deregulatory policies and political stability.

Bozell Worldwide has provided technical assistance for Dian Mentari Pratama since 1994.

Anderson expressed optimism that Bozell Worldwide will be able to compete in Indonesia's advertising market, despite the fact that many other foreign advertising companies are operating in the country.

"Competition is currently getting tighter. But every advertising firm has its own target," he said.

Maria Indriani, the founder and managing director of Dian Mentari Pratama, said that the company, which was established in 1986, will remain a majority shareholder in the advertising venture.

"We cannot yet tell you the amount of Bozell Worldwide's investment as it is still under negotiation," she said.

Dian Matari Pratama expects to achieve a total billing of Rp 25 billion (US$10.8 million) this year. The firm handles advertisements for the Wings Group, Indofood, Bank Dagang Nasional Indonesia and Bank Ekonomi.

Bozell Worldwide, which has 80 foreign offices in 50 countries -- 25 in 16 countries of Asia -- reached a total billing of over $3 billion last year. (13)