Holding Companies: A Mixed Bag in First Half

The holding companies of a number of top media agencies reported mixed results for the first half of 2003, according to a MediaPost compilation of data from company reports. Only one of the group reported a decline, but none had record-breaking revenues.

Most said U.S. conditions are improving while other markets continue to lag. And Havas, which owns Media Planning Group, Arnold Worldwide Partners and Euro RCSG, has seen an 18.8% drop in its revenues, owing mainly to the euro's strength against the U.S. dollar. But even with constant currency, Havas was down 6.8% in the first half.

First Half '03 Holding Company Revenues


Revenues Vs. First Half '02
Grey $618 million +7%
Havas $909 million -19%
Interpublic $2,810 million +<1%
Omnicom $4,080 million +12%
Publicis* $2.030 million +59%
WPP $3.000 million +3%

Source: MediaPost compilation of data from company reports. Carat parent Aegis Group will not report until Sept. 9. *Organic growth rate was 0.2%.

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