Interpublic (IPG) continues to wrestle, reporting an natural lower in Q3 2023 of 0.4% on income barely up at 0.6%.
In contrast Havas, now owned by Vivendi however a a lot greater a part of the empire since Vivendi bought Common Music, posted a 4.5% natural progress improve, simply behind French rival Publicis on 5.3% however forward of Omnicom’s 3.3% and, probably, WPP which has but to report.
One thing’s been up at IPG just lately with its once-flagship digital inventive companies R/GA and Enormous retrenching. CEO Philippe Krakowsky guarantees assistance is on the best way, saying: ““We’re centered on closing the 12 months as strongly as attainable and, particular to areas of underperformance, will concurrently assess inside structural options as a way to enhance.”
Which often means additional redundancies and inside mergers, a former CFO’s reply to most issues. IPG shares fell 3.4% in response however the market in all probability wasn’t anticipating something a lot better.
Havas CEO, and now Vivendi, boss Yannick Bolloré was predictably extra upbeat, saying: “Given the (financial) circumstances, we might be super-satisfied with these outcomes. Now we have progress in each area on this quarter.”
Europe was up 1.5%, North America 3.0% and Asia Pacific 2.0%. LATAM was up 51.1%, partly as a result of media shopping for there’s nonetheless a full-service enterprise, a narrative in itself.
A few of IPG’s tech purchasers will likely come again though, on the media aspect, it nonetheless has to arrange for the lack of the enormous Amazon account, now the world’s largest advertiser. Retrenching will solely get you to this point in what the advert holding firms insist on telling us remains to be a inventive enterprise. Would possibly one of many issues be that they only aren’t pretty much as good at inventive as they was?
Bolloré is in a a lot better place however he additionally has Vivendi (Canal+ and others) on his plate. Vivendi is now valued at a ‘mere’ €8bn which makes it a reasonably juicy goal for a non-public fairness bidder or a rival.
As, certainly, are the advert holding firms. However would anybody need them?
