Omnicom CRM, specialty marketing revenue up in Q3
Omnicom Group's third-quarter net income increased 16.7% to $203.7 million compared with the third quarter of 2010, the company said Oct. 18. The holding company's worldwide revenue increased 12.9% to $3.4 billion compared with the same quarter last year.
Omnicom's marketing services business includes its CRM, public relations and specialty marketing firms. The holding company owns advertising agency networks including BBDO Worldwide, DDB Worldwide Communications Group and TBWA Worldwide. Its roster of direct and digital agencies includes Rapp, Proximity Worldwide and Organic.
The holding company's specialty marketing revenue decreased 4.8% organically to $274 million. Its CRM business generated $1.3 billion in revenue in the quarter, growing organically by 8.6% year-over-year. Organic revenue growth represents change in revenue in constant currency without measuring the impact of acquisitions or disposals. Third-quarter advertising revenue increased 9.1% organically from the prior year to $1.5 billion.
Omnicom Group agencies won $1.4 billion in net new business during the third quarter, Randall Weisenburger, CFO and EVP of Omnicom, said during an earnings call. Including new account wins, Weisenburger said Omnicom's organic growth was driven by clients having restored their levels of marketing spending after reducing them in late 2008 and agencies expanding the scope of the services they provide to their clients.