Omnicom PR revenues slump

Omnicom Group, which owns Fleishman-Hillard, Ketchum, Porter Novelli and Gavin Anderson, has reported a decrease in PR revenues of more than 10 per cent in the fourth quarter of 2008.

Omnicom Group: reporting 2008 financial results
Omnicom Group: reporting 2008 financial results

After a strong first half of 2008, during which PR revenues increased by 5.3 per cent, PR earnings dropped to US$305 million in the fourth quarter of the year, making it the worst-performer of Omincom’s four disciplines. By comparison, advertising revenues declined by 7.6 per cent during the same quarter.

PR revenues accounted for nine per cent of Omnicom’s earnings in the fourth quarter.

For the full year of 2008, PR revenue dropped by 0.4 per cent, while advertising and CRM both posted single digit gains. Total PR revenue from the year reached US$1.27 billion.

Overall, the group increased global full year revenues by 5.2 per cent, offsetting a 4.9 per cent drop in the UK.

The Omnicon Group is headed by president and CEO John Wren.

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