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While the advertising industry is abuzz with the merger of Wunderman Thompson into VML, now touted as the world’s largest creative company by WPP, Omnicom has been quietly advancing its business. The company reported a 3.3% growth in Q3 2023, with overall revenue increasing by 3.9% to $3.6 billion.
Omnicom now projects a 4% growth for the year, with expectations of even better results next year, driven by significant new business wins, particularly in media.
Publicis currently leads the growth sector for 2023, with a 5.3% increase in Q3.
The CEO of Omnicom stated that the company’s strong growth underscores the effectiveness of their client strategy in a rapidly changing market. He emphasized that Omnicom is well-positioned for a business recovery, backed by a solid balance sheet and top-tier creativity across all service disciplines.
Regionally, organic growth in the US was 2.7%, 5.7% in Europe, with the UK growing by 4.4%. Latin America saw a 19% increase, while the Middle East, Africa, and Canada experienced declines.
By sector, advertising and media grew by 6.1%, precision marketing by 4.3%, and healthcare by 3.8%. Experiential marketing units saw a 9.2% rise, while PR, execution and support, commerce, and branding experienced declines.