Second quarter PR revenue at Omnicom rose 1.1% to $349.6M over a year earlier, the holding company reported today. Organic growth in the segment was essentially flat at 0.1%.
Overall revenue for the quarter hit nearly $3.9B, up 2.1% over the same period of 2015 as organic growth and acquisition revenue overcame negative currency effects. Net income rose 3.9% to $326.1M, from $313.9M a year earlier.
Advertising revenues climbed 6.1% to top $2B for the quarter, offsetting a 4.3% decline in its CRM segment to $1.2B. Specialty units contributed 3.1% growth at $290.6M in revenue.
Through the first two quarters of 2016, Omnicom's PR units, including Porter Novelli, FleishmanHillard and Ketchum, among others, posted a 0.1% decline (-0.4% organically) on $668.4M in revenues.
In a conference call, CEO John Wren said it's too early to know the impact on Brexit on the conglomerate's business. "What is clear is that the UK decision to leave the EU creates uncertainty and may slow down decision-making in many markets," he said. "Our agencies continue to operate without disruption in the UK and Europe. Over time we expect the volatility and the uncertainty surrounding the Brexit vote to subside and for our agencies to adapt to the post- Brexit marketplace."
Abandon traditional content plans focused on a linear buyer progression and instead embrace a consumer journey where no matter which direction they travel, they get what they need, stressed marketing pro Ashley Faus during O'Dwyer's webinar Apr. 2.
Freelance marketers and the companies that hire them are both satisfied with the current work arrangements they have and anticipate the volume of freelance opportunities to increase in the future, according to new data on the growing freelance marketing economy.
Home Depot's new attempt to occupy two market positions at once will require careful positioning strategy and execution to make it work.
Verizon snags Peloton Interactive chief marketing officer Leslie Berland as its new CMO, effective Jan. 9. Berland succeeds Diego Scotti, who left Verizon earlier this year. 
Norm de Greve, who has been CMO at CVS Health since 2015, is taking the top marketing job at General Motors, effective July 31.
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