Omnicom produced organic revenue growth of 3.4% in Q1, but net income decreased 9.7% year over year.
The holding company’s core advertising, media and CRM services continued to anchor growth in Q1.
Media and advertising led all business segments with 7.2% organic growth, followed by precision marketing at 5.8% growth, while branding, retail commerce, PR and healthcare all declined. In Q1 2024, media and advertising grew 6% organically.
“Media, by far, is very strong and continues to be very strong,” said CEO John Wren on an earnings call. “It topped the leagues in new business and retentions.”
Creative services — often seen as more vulnerable in an AI-influenced era — remain a foundational piece of Omnicom’s identity, Wren emphasized.
“Advertising needs to be separated into two areas,” he said. “Both are being affected by technology, but creative is our IP. That’s always going to be the center of what Omnicom …