Omnicom surges out of Q2 starting blocks with 5.2% growth
This time it’s Omnicom setting the pace among the ad holding companies, beating Publicis to the draw with its Q2 2024 earnings, recording organic growth of 5.2% (Q1 4%) with experiential leading the way followed by advertising and media.
Global revenues reached $3.9bn, an increase from $3.6bn in Q1. The UK led the way in major markets (up 6/9%) followed by the US (6.3%) and Europe 4.5%. LATAM was up 24.4%. APAC fell back -0.1%.
CEO John Wren (left) says: “Our 5.2% organic growth in the second quarter drove solid growth with good performance in our larger markets and disciplines. With the rapid adoption of Gen AI, creativity and talent matter more than ever to address the breadth and complexity of consumers.”
Omnicom and Publicis have been by far the strongest performers among the ad holding groups this year and last, driven mainly by big media wins. Omnicom’s 5.2% in Q2 sets a pretty high bar for its rivals, including Publicis.
Sadly, what they don’t report is the 100s of layoffs, multiple company closures, and raises and promotions they’re delaying by 6 months. I’m sure that’s how they made that increase happen. Now they’ve delayed raises and promotions again because they said the numbers were too low in Q2. Make it make sense. Omnicom should take care of the employees who are in the day to day, meeting client deadlines and doing the pitch work that has won them a lot of new business.