Omnicom grows 3.3% in Q3 2023 – forecasts stronger 2024

While the ad world mulls over the merger of Wunderman Thompson into VML – now the world’s “biggest creative company” according to WPP – Omnicom is quietly getting on with business, posting 3.3% growth in Q3 2023 on a 3.9% increase in overall revenue to $3.6bn.

Omnicom now expects 4% growth for the year and better times next year when a number of big new business wins, especially in media, will kick in.

Publicis currently leads the 2023 growth field with 5.3% growth in Q3.

Omnicom CEO John Wren says the company’s “strong growth validate the benefits of our client strategy in this rapidly evolving marketplace. We are very well positioned for a recovery in business conditions, with a strong balance sheet and leading creativity in all of our service disciplines.”

By region organic growth in the US was 2.7%, 5.7% in Europe with the The UK up 4.4%. LATAM was up 19% but the Middle East, Africa and Canada were down.

By discipline advertising and media was up 6.1%, precision marketing up 4.3% and healthcare up 3.8%. Experiential marketing units posted a 9.2% increase. PR, execution and support, commerce and branding were down.

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