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."
I run content and partnerships for Black Note, a manufacturer of naturally extracted tobacco e-liquid in Irvine, California.
Wendy's Company has named McDonald's alum Tariq Hassan to the chief marketing and growth officer position, a new post.
Finance of America, a leading reverse mortgage lender, has recruited Jordan Baucum as senior VP communications and Colm Murphy as chief brand officer.
In today’s highly competitive marketplace, ad agencies are increasingly leveraging the power of public relations to build reputations, shape narratives, reinforce areas of expertise, and create content.
