NEW YORK—Omnicom, parent company to multinational public relations firms Fleishman-Hillard, Ketchum, Porter Novelli and more, saw its revenues from PR decline by 15 percent last year, underperforming the market during a difficult year for marketing services.
Omnicom’s total net income for the fourth quarter of 2009 decreased 15.3 percent to $229.6 million from $271.0 million in the fourth quarter of 2008. Worldwide revenue decreased 3.1 percent for the fourth quarter of 2009 to $3,265.9 million from $3,371.3 million in the fourth quarter of 2008.
Those results meant that Omnicom's net income for the twelve months ended December 31, decreased 20.7 percent to $793.0 million from $1,000.3 million for the same period in 2008. Worldwide revenue for the twelve months ended December 31, 2009 decreased 12.3% to $11,720.7 million from $13,359.9 million in the same period in 2008, which meant that PR revenues underperformed other elements of the holding company’s business, with advertising revenues down by about 10 percent.
The company ended the year with PR revenues of $1.07 billion. Excluding the impact of exchange rates and acquisitions, PR revenues were down by by 11 percent, although the company said that fourth quarter numbers were slightly more positive, with PR revenues posting an 8.5 percent decline over the same period in 2008.