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Q2 earnings: Omnicom grows 24% organically off pandemic dip

Campaign 20 Jul 2021 03:25

Last year during Q2, the world was under lockdown at the height of the pandemic, causing business performance to plummet for large marketers and their agencies.

One year later, that’s turning around, as evidenced by Omnicom’s strong double-digit growth across regions in Q2 2021. Organic growth globally rose 24% in Q2 to $682 million, leading worldwide revenues to clock in up 27.5% at $3.57 billion.

The rebound was driven by double-digit growth across regions and disciplines, said CEO John Wren on Omnicom’s Q2 earnings call on Tuesday. “We've rounded the corner into positive growth,” he said.

Across disciplines, Omnicom’s advertising business grew 29.8% globally, CRM precision marketing grew 25% and CRM commerce and brand consulting grew 15.2%. PR grew 15.1% and healthcare grew 4.5% off stronger year-over-year comps (healthcare was the only discipline that grew in Q2 2020.)

CRM experiential, which includes Omnicom’s events and experiential businesses, grew 53% year over year, indicating a strong appetite for a return to live events once conditions are safe. Wren added that in China, where the pandemic has been under control for longer, the events business had “a strong quarter.”

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OmnicomWrenCEO John Wren
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