in 2022 based on revenue. The holding came behind London-based competitor WPP and outranked fellow competitors Publicis Groupe, Interpublic Group of Companies (IPG), and Dentsu.
Omnicom was founded in 1986, as a “big bang” merger between three of the largest U.S. advertising agencies – BBDO Worldwide, Doyle Dane Bernbach; and Needham Harper Worldwide. The group has been guided by President-CEO John Wren since 1997, and functions as the parent company of five agency networks – BBDO Worldwide, DDB Worldwide, Omnicom Media Group (OMG), Diversified Agency Services (DAS), and TBWA Worldwide.
As an international marketing and communications services company, Omnicom boasts more than 74 thousand employees in 85 countries and generates nearly
half of its revenue from outside Canada and the United States.
Finances flow upwards
Omnicom recorded a global revenue of 14.69 billion U.S. dollars in 2023, marking an increase from the previous year. Both the agency group’s
net income and profitability also grew in 2023, meaning that the global tech cutbacks did not affect it as much as some of its peers. The United States and Canada ranked as Omnicom’s largest market in 2023, trailed by Europe and the Asia-Pacific region. In the same year, the company recorded its highest
regional revenue growth in Latin America.
Ads keep ruling the revenue
More than half of Omnicom’s global revenue was attributed to advertising, while public relations and precision marketing completed the top three of the company’s most profitable realms. When it came to the
leading industry sectors of Omnicom’s clients, pharmaceuticals took the cake. In 2013, it was announced that Publicis Groupe and Omnicom would merge to form Publicis Omnicom Group, but the deal ended up falling through the following year. A few reasons have been cited behind the failed 35-billion-dollar “merger of equals,” including tax structures and struggles in conciliating different corporate cultures. In 2021, Omnicom beat Publicis in securing the account for Mercedes Benz’s global marketing; this led to the birth of Team X, a customized marketing agency tasked with handling every aspect of the German auto giant’s global communications.
Advancing in AI and retail media
Omnicom has been making moves in the world of
artificial intelligence (AI), but unlike its peers, it still has not come out with an AI strategy statement and has preferred to adopt a more cautious approach to the burgeoning technology. In June 2023, the group announced it would be partnering with Google to integrate the latter’s generative AI models into its Adtech platform. This collaboration would mark the first commercial application of Google’s generative AI. In addition to AI, Omnicom has set its eyes on
retail and commerce media. In January 2024, the company made its largest acquisition to date with the buying of ecommerce platform Flywheel Digital. As
third-party cookie depreciation moves forward, Flywheel Digital data can provide an augmented understanding of consumer data without the need for cookies. Omnicom expects the Summer Olympics and the U.S. presidential election to bolster revenues in 2024, and is poised to explore a promising new market opportunity brought by its retail media foray.
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