Holmes Report 16 Oct 2018 // 1:49PM GMT
NEW YORK — Omnicom Group, which owns numerous PR firms including FleishmanHillard, Ketchum and Porter Novelli, has reported that its PR firms grew 2.3% on an organic basis during the third quarter of 2018.
That's a slight dip from the 2.7% growth reported for the second quarter of the year — although still far ahead of a weak first quarter of the year, when PR grew by just 0.7%.
On an organic basis, PR's year-over-year third quarter performance was lower than three of Omnicom's four other divisions. Advertising increased 4.0%, CRM consumer experience increased 5.5% and healthcare increased 2.9%. CRM execution & support decreased 3.6%.
During the first three quarters of 2018, PR has grown 2.0% on an organic basis over the same period of time in 2017.
Overall, Omnicom's worldwide revenue in the third quarter of 2018 decreased 0.1% to $3,714.3 million from $3,719.5 million in the third quarter of 2017. The components of the change in revenue included a decrease in revenue from the negative foreign exchange rate impact of 1.7%, a decrease in acquisition revenue, net of disposition revenue of 0.9% and an increase in revenue from organic growth of 2.9% when compared to the third quarter of 2017.
Despite returning to growth in 2016, Omnicom's PR firms — which includeFleishmanHillard, Ketchum and Porter-Novelli — have struggled to record sustained growth in recent years, helping to usher in the appointment of Karen van Bergen as CEO of the newly-constituted Omnicom PR Group more than two years ago.