Millward Brown's Parent, Kantar Group and AARP Services Form Joint Venture Company in US
New York, July 20, 2005 – AARP Services, a wholly owned subsidiary of AARP, and The Kantar Group, one of the world’s largest research networks, have entered into a joint venture agreement to provide research and advisory services focused on the 50+ consumer. The venture is being formed in response to growing demand from marketers, agencies and media organizations to better understand and serve the needs of this dynamic and fast-growing population.
The new company will leverage the combined strengths and experience of AARP Services with those of Kantar to develop a full suite of products and services to meet client and industry needs. AARP Services brings a wealth of experience and knowledge about the 50+ market to the venture, while Kantar's lead research agencies in this venture – Millward Brown, Research International and Lightspeed Research – will provide deep research and consumer insight expertise, and have relationships with more than 90% of the world's leading client brands.
Today there are more than 80 million adults ages 50 and older in the U.S., and that number is projected to expand to 125 million by 2020. Consumers 50+ spend trillions of dollars a year and have the largest market impact in terms of total dollars spent across numerous product and service categories. According to a recent US News & World Report, Madison Avenue continues to spend only about 10% of advertising dollars on the 50+ market.
“It seems obvious when you have a group the size of the 50+ population, and a spending power of trillions of dollars a year, that businesses and marketers would invest the time and money to understand all segments of this demographic,” stated Dawn Sweeney, President, AARP Services, Inc. “To date, many companies have yet to fully realize that this large and diverse population offers immense opportunity for their businesses. To make informed and profitable decisions, they will need accurate and insightful data. We are pleased to be working with the Kantar Group, a leading global research organization, to fulfill this unmet need."
“Successful marketing and advertising to today’s boomer generation will require new strategies and creative tactics," said Rosi Ware, senior vice president –development, The Kantar Group, "and we look forward to working with AARP Services to help marketers better address the needs of this important population. We are making a significant investment to form what will be the world's largest and leading source of data, insight and advice on the 50+ market. We believe our research will drive change in marketing and communications practices, position today's 50+ market as the desirable, vibrant population they are, and enable companies to better meet the needs of this consumer segment," Ms. Ware added.
About Kantar Group
The Kantar Group is (http://www.kantargroup.com/
) is the global information, insight and consultancy division of WPP, one of the world's leading communications services groups. The Kantar Group provides a diverse range of skills and expertise oriented around the shared task of helping clients understand their markets, their brands and their customers, which are summed up in its statement of purpose: "better ways to answer business questions."
Kantar employs over 9,600 people in over 60 countries around the world. The Kantar companies, each a leader in its own area of expertise, include Added Value, BPRI, Cannondale Associates, Center Partners, Glendinning, Henley Centre, IMRB, KMR, Lightspeed Research, Management Ventures, Mattson Jack, Millward Brown, pFour, Research International, and Ziment.
About AARP Services, Inc.
AARP Services, Inc., founded in 1999, is a wholly owned subsidiary of AARP. AARP Services manages the wide range of products and services that are offered as benefits to AARP’s 35 million members. The offers span health and financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; automobile and homeowners insurance; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; life insurance; a credit card; pharmacy services; alternative health services; legal services; and long-term care insurance. AARP Services’ responsibilities include developing new products, managing products and services, marketing, creating and maintaining partnership and sponsorship relationships, and developing and managing AARP’s award-winning website, AARP.org.