Even during rough economic times, the advertising giant is making risky moves to thrive.
Wieden+Kennedy+Entertainment, an online video and radio station, is the advertising company’s latest project.
The twist? The project is operating without a business model and a clear revenue source. It’s a gutsy move for an agency that lost Starbucks as a client and a major Heineken account last year.
“Until we figure out a way to give WKE some sort of revenue source, I’m not sure how much more the company will feel comfortable investing in the project,” [says Janice Grube, a singer-songwriter who still gigs for the electronic musician Peaches, and works at Wieden+Kennedy as an account executive and creative assistant.] “There was definitely pulling on the purse strings. We’ve cut every corner. I’m sure 10 years ago there would be no hesitation.”
WKE’s directors hope to lure sponsors within a year. That’s if the project even lasts that long. The 2010 budget for WKE has not been approved by the company, and it’s far from a sure thing.
Read the full story at Willamette Week.
{biztweet}Wieden Kennedy Entertainment{/biztweet}
