Publicis sees revenue decline, says “everything is normal”
October 28, 2008
Publicis SA, who’s holdings include the Saatchi & Saatchi advertising agency, said third-quarter revenue was little changed however Revenue fell to 1.11 billion euros ($1.4 billion) from 1.12 billion euros a year earlier.
But everything is normal? So it’s normal to see revenue decline?
It’s an economic disaster, but everything is normal? They don’t expect to get hammered in the next 90 days when budgets are reviewed? This is a lack of foresight, it’s a freaking disaster.
Then there is a sign of reality coming from WPP group plc (believe it or not)
Worldwide Internet ad investment growth will rise 24 percent this year to $60 billion, equivalent to about 12 percent of all measured media advertising, according to Adam Smith, futures director at GroupM. GroupM is the parent company of media agencies for WPP Group Plc, Publicis’s U.K.-based rival. Bloomberg
Like they finally realized the internet exists and that is one of the main reasons they have been in so much trouble recently… mind you WPP has not yet gotten a search engine optimization firm under their belt other than Catalyst - but they are allocating it wrong in our opinion. Catalyst needs to help all of WPP’s clients… not just being a stand alone shop… IE: Catalyst’s sole client should be WPP and their clients… as compared to treating it like a traditional ad agency. Mind you that Catalyst doesn’t even rank for their own name in Google via an organic search. Meaning we had to really dig around for some time to find a WPP company that does search engine optimization, but after finally finding the company, we realized their primary focus is SEM not SEO.
It’s rough out there, but these advertising agencies are doing it to themselves, by not adapting to the new reality on the ground. People want to rank well in Google, and they don’t want to spend a billion dollars doing it.
Related Posts:
Comments
Recognized by Advertising Age Magazine as top Power 150 news outlet for Advertising and Marketing.
Recognized and listed in Google News. Don't stress, we're Satire
Ad Agency Advertising
