https://theprpost.com/post/7505/

Omnicom's PR agencies experience a slight increase in the second quarter

Omnicom's PR revenue showed a modest increase of 0.9% in the second quarter of 2024, marking a turnaround after three consecutive quarters of decline for the group. This growth contrasts with stronger performances in Omnicom's other sectors: advertising & media (7.8%), experiential (17.6%), healthcare (2%), precision marketing (1.4%), and execution & support (1.2%). However, branding & retail commerce saw a decline of 3.8%.In total, revenue for the second quarter of 2024 rose by $243.9 million, or 6.8%, reaching $3.85 billion. The increase was largely driven by organic growth, which contributed $188.3 million, or 5.2%. Acquisitions, particularly the Flywheel Digital acquisition in Precision Marketing, added $93.0 million (2.6%) to revenue, though foreign currency translation had a negative impact of $37.4 million (1.0%).Regionally, organic growth varied: the United States saw 6.3%, Euro Markets & Other Europe 4.5%, the United Kingdom 6.9%, Latin America 24.5%, and the Middle East & Africa 8.0%. However, Asia Pacific decreased by 0.1% and Other North America by 8.3%.Chairman and CEO John Wren highlighted the company's 5.2% organic growth in Q2, driving strong performance in adjusted EBITA & EPS. He emphasized the importance of creativity and talent in leveraging Gen AI, underscoring ongoing strategic investments in technology, content, e-commerce, and performance media through their Omni platform.While Omnicom's PR revenue increase in Q2 was modest, it reversed a trend of quarterly declines, positioning the group for future growth and strategic alignment