Giant marketing communications group Omnicom saw its profits inch ahead by 4.2 per cent to $243m in the second quarter of 2010 on revenue of just over $3bn, $1.6bn of which came from the US.
Boss John Wren said this means that the group can now focus on growth rather than survival, the bitter diet for the big marcomms groups through the recession that began in the autumn of 2008.
We’ll have to wait for WPP’s next set of numbers to see if this means that Omnicom has resumed its traditional place at the top of the agency pile. Omnicom is a huge creative powerhouse in the US through established agency brands BBDO, DDB and TBWA while WPP is (relatively) stronger in media buying.
Omnicom also benefited from a good performance by some of its smaller brands with Goodby Silverstein picking up Chevrolet. The group also won more Kraft business.
Omnicom is also trying to raise its digital media game, recently striking a deal with Google to spend some of those client dollars on Google display products. The deal includes the establishment of an Omnicom ‘trading desk’ for Google ads.