New York-based Omnicom is the latest of the holding companies to report impressive Q3 numbers, announcing organic revenues were up 11.5 per cent in the three months to September.
Q3 revenues for the quarter totalled $US3.44 billion ($A$4.6 billion), up 7.1 per cent on last year, as the impact of COVID-19 continue to improve. Revenue of the year-to-date was at $US10.4 billion ($A13.9 billion).
Regional growth numbers were 7.7 per cent for the United States, 20.2 per cent for other North America, 11.4 per cent for the UK, 14.9 per cent for the Euro markets and other Europe, 19.6 per cent for Asia Pacific (where Australia is reported), 15.9 per cent for Latin America and 24.3 per cent for the Middle East and Africa.
Organic growth by disciplines were 8.6 per cent for advertising, 24.3 per cent for CRM precision marketing, 18 per cent for CRM commerce and brand consulting, 49.9 per cent for CRM experiential, 8.3 per cent for CRM execution and support, 10.5 per cent for public relations and 6.6 per cent for healthcare.
Omnicom’s CEO and chairman, John Wren, said: “Robust organic revenue growth of 11.5 per cent drove improvement in all of our key financial measures – with a notable jump in CRM Precision Marketing from our digital transformation work.
“Our powerful and differentiated offering, which is tailored to our clients’ needs and is comprised of best-in-class talent, creativity, operating systems and technologies such as Omni, enables us to consistently orchestrate better outcomes for clients and win new business. It is a formula that delivered for us in the third quarter, and will drive our ability to meet our clients’ growing demands in an increasingly complex marketing landscape,” Wren said.
Commenting on the outlook, a spokesperson for Omnicom said: “Global economic conditions may continue to be volatile as long as the COVID-19 pandemic remains a public health threat, which could negatively impact our clients’ spending plans. We expect global economic performance and the performance of our businesses to vary by geography and discipline until the impact of the COVID-19 pandemic on the global economy subsides.”
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