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IPG’s McCann wins Ferrero as parent grapples with low growth

Interpublic’s McCann Worldgroup has won Ferrero’s Kinder and Tic Tac creative accounts in Europe, Asia-Pacific, the Middle East and Africa and all its business in Mexico. This follows a nine-month review.

At the same time time parent Interpublic (IPG) has revealed it is still struggling to absorb some account losses, chiefly Pfizer, as it’s announced Q2 organic growth of just 1.7%, well behind rivals Publicis and Omnicom. Revenue before billable expenses (net revenue) was flat at $2.33bn.

For the half year net revenue was $4.51bn with an organic increase of 1.5% from the first half of 2023. Full year growth of 1% is forecast.

CEO Philippe Krakowsky says: “Second quarter performance was solid, with moderate acceleration in organic growth, as well as margin expansion compared to the same period last year. Consistent with our longer-term performance, IPG Mediabrands and IPG Health led the way in the quarter. We also saw notable contributions to growth from Deutsch LA, Golin and Acxiom. Creatively, our agencies continued to garner exceptional levels of recognition for the quality of their ideas and innovation, across all marketing disciplines.”

IPG’s two big creative agencies McCann and FCB are, indeed, performing well but IPG, like rival WPP, has been hit by some historic account losses, chiefly Pfizer which must have been highly profitable to dent their numbers so dramatically. Pfizer has gone to Publicis Groupe.

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