Omnicom’s Revenues Down 9.6% In Q4, As Australia Proves A Shining Light

Omnicom’s Revenues Down 9.6% In Q4, As Australia Proves A Shining Light
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The New York-based Omnicom has reported its revenues declined 9.6 per cent to $US3.7 billion ($A4.7 billion) in the final quarter of 2021.

However, it was an improvement on Q3’s performance that had posted a 11.7 per cent decline.

Overall, Omnicom’s revenues were down 12.2 per cent for the year, obviously due to the global pandemic.

However, the holding company’s Australian and New Zealand operations proved a standout, posting a profit in the last quarter to December. Although revenues in the APAC region were still down 8.5 per cent year-on-year.

The standout performers for the group were health, pharma, food and beverage; while travel, entertainment and the energy companies were the hardest hit.

Omincom’s CEO John Wren (main photo) said that 2021 was already showing some healthy green shoots, however there was “still significant challenges”.

Wren adding that Omnicom would “achieve positive organic growth” over the coming 12 months but its agencies must “remain adpatable and vigilant”.

For the numbers October through to December 2020, North America was down 3.2 per cent, the UK was down 12.4 per cent, Europe was down 9.2 per cent and APAC fell 8.5 per cent.

Wren saw the holding company’s opportunites in CRM, performance marketing, ecommerce, data and analytics.

“The velocity of digital transformation picked up this year,” Wren said. “As we emerge on the other side of this pandemic, it’s clear this trend is here to stay. We now have a greater opportunity to help clients accelerate digital transformation initiatives and connect with customers.”

 

 

 

 

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