Industry Insight Report: Advertising & PR Agencies Q4-2024
Industry Insight Report: Advertising & PR Agencies Q4-2024
In December, advertising firm Omnicom announced it would acquire rival Interpublic Group in an all-stock deal that will create the world’s largest advertising company. The two firms had a combined 2023 revenue of $25.6 billion. Omnicom said the merger will create a company providing end-to-end services across media, marketing, CRM, data, digital commerce, advertising, public relations, and branding. The deal comes as tech firms, including Google and Meta, gain larger shares of the ad market and as big tech’s generative AI efforts are expected to further encroach on traditional ad players’ creative development space. Once the deal is complete, Omnicom shareholders will hold a 60.6% stake in the combined company, and Interpublic shareholders will own 39.4%. The transaction is expected to close in the second half of 2025, and the combined company will retain the Omnicom name.
News Spotlight:
Agency holdcos face a new crossroads: reunite media and creative, or risk irrelevance Campaign US: Full Article »
Industry Forecast
Sales for the US advertising and PR agencies industry are forecast to grow at a 4.46% compounded annual rate from 2024 to 2028, comparable to the growth of the overall economy.
By the Numbers
Employment by advertising and PR agencies increases Overall employment by advertising and PR agencies changed 2.3% in October compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at advertising and PR agencies rise Average wages for nonsupervisory employees at advertising and PR agencies were $36.91 per hour in October, a 1.1% change compared to a year ago.
Lion Business Advisors quarterly industry insights data provided by VerticalIQ industry intelligence platform
Industry Insight Report: Advertising & PR Agencies Q4-2024
In December, advertising firm Omnicom announced it would acquire rival Interpublic Group in an all-stock deal that will create the world’s largest advertising company. The two firms had a combined 2023 revenue of $25.6 billion. Omnicom said the merger will create a company providing end-to-end services across media, marketing, CRM, data, digital commerce, advertising, public relations, and branding. The deal comes as tech firms, including Google and Meta, gain larger shares of the ad market and as big tech’s generative AI efforts are expected to further encroach on traditional ad players’ creative development space. Once the deal is complete, Omnicom shareholders will hold a 60.6% stake in the combined company, and Interpublic shareholders will own 39.4%. The transaction is expected to close in the second half of 2025, and the combined company will retain the Omnicom name.
News Spotlight:
Agency holdcos face a new crossroads: reunite media and creative, or risk irrelevance
Campaign US: Full Article »
Industry Forecast
Sales for the US advertising and PR agencies industry are forecast to grow at a 4.46% compounded annual rate from 2024 to 2028, comparable to the growth of the overall economy.
By the Numbers
Employment by advertising and PR agencies increases
Overall employment by advertising and PR agencies changed 2.3% in October compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at advertising and PR agencies rise
Average wages for nonsupervisory employees at advertising and PR agencies were $36.91 per hour in October, a 1.1% change compared to a year ago.
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