NEW YORK: Q2 revenues for Interpublic Group's (IPG) Constituency Management Group (CMG) rose 8.2% from $248.5 million to $269 million year-over-year, according to an earnings report released this morning.
PR revenues, in particular, went up 9.6% in Q2 and 9.5% year-to-date, said Harris Diamond, CEO of CMG, which besides PR agencies such as Weber Shandwick and GolinHarris, is also comprised of events firms and experiential marketing companies.
"PR grew much faster than the rest of [CMG]," Diamond explained. "Clearly, social media is driving a lot of our results. We got a little over 300 people now who just do that. The other thing that's really working is consumer, and corporate and tech have been very, very strong."
Diamond, who also serves as CEO of Weber Shandwick, said new business overall has been strong, but declined to comment on specific Q2 client wins. In May, Weber continued its PR push for the US Army, which it retained as a client earlier this year. And last month, GolinHarris announced a restructuring of its business with plans to double its growth globally within the next 10 years.
Overall, IPG posted a revenue increase of 8%, up $1.74 billion, compared with $1.61 billion in Q2 2010. Year-over-year revenues in the US were up 2.8% at $961 million, and international revenues were up 15.7% at $650.7 million. Meanwhile, organic growth reached 4.2% in the US and 5.5% internationally.Last quarter, revenues for CMG rose 4.9%, from $227.8 million to $238.9 million year-over-year.