Omnicom has recorded with organic growth of 4.4 percent in Q4 of 2023, 4.3 percent for the year, on annual revenue of $14.7bn, as per reports.
Omnicom grew 2.6 percent in the US, its biggest market, 7.2 percent in Europe, 6 percent in APAC and 4.7 percent in the UK.
Omnicom agencies include BBDO, DDB, TBWA and the various media agencies grouped in Omnicom Media Group (OMG.) In 2024 the company is targeting 3-5 percent growth. CEO John Wren blamed account losses including Pfizer, which went to Publicis. WPP CEO Mark Read also mentioned losing business from the pharma giant in his recent Capital Markets Day. Since then Omnicom has won a number of accounts, especially in media.
Omnicom’s numbers lag Pubicis, which recorded 6.3 percent growth for 2023 but are still way ahead of WPP which is expected to show less than one per cent growth in 2023 and about the same this year, thereby increasing the pressure on CEO Read.