Omnicom PR revenue grows 9.7% in Q3

NEW YORK: Omnicom Group reported a 9.7% year-over-year increase in global PR revenue in the third quarter to $307.1 million.

NEW YORK: Omnicom Group reported a 9.7% year-over-year increase in global PR revenue in the third quarter to $307.1 million. PR revenue increased 4.2% organically in the period.  

The holding company's overall Q3 net income increased 16.7% year-over-year to $203.7 million from $174.6 million the prior year.

Omnicom's overall global revenue rose 12.9% year-over-year to $3.38 billion in the quarter. Overall revenue increased 7.2% organically in the quarter.

Organic growth represents change in revenue without measuring the impact of acquisitions or disposals.

In July, PRWeek reported that Omnicom's Q2 revenue for PR grew 7.1% year-over-year to $311.7 million, with organic PR revenue increasing by 1.3%.

Last month, Omnicom agency Fleishman-Hillard launched a Global China Practice, allowing the firm to expand its reach in that market. Earlier this month, Fleishman also hired Richard Dale to serve as SVP, senior partner, and director of strategic account planning for North America, a newly created position.

Ray Kotcher, CEO of Ketchum, explained that the agency's revenue growth outpaced that of the holding company's overall PR unit.

“We exceeded the organic growth that Omnicom reported on from the PR sector and we also exceeded the overall growth that Omnicom reported in the public relations sector,” he said.

Kotcher attributed the agency's revenue growth to both loyal clients and new business, whose expenditures “continue to be very strong” despite the economic uncertainty in the US.

He added that Ketchum's crisis communications, social media, and Ketchum Pleon Change units have all seen significant growth in recent months.

Other Omnicom PR agencies include Ketchum, Porter Novelli, Brodeur Partners, and Cone.

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