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WPP Group, the world's largest advertising and marketing services company, this morning reported that like-for-like revenues declined 8.7% during the third-quarter of 2009. WPP, which is the parent of Group M Interaction, and media services agencies such as Mindshare, Mediaedge:cia, Mediacom and Maxus, reported that its advertising and media investment management revenues declined greater than the group as a whole, falling 9.8% from the third-quarter of 2008.
However, the third-quarter appeared to be a low point for advertising industry, and the sector has actually tracked relatively evenly with overall company revenues on a year-to-date basis. This decline also reflects the results from Publicis who reported a few days about their falling revenues (read here)
The news reported that WPP's advertising and media revenues declined 8.5% through the first nine-months of 2009, while total revenues fell 8.4%.
While WPP's release did not explicitly break out its Internet advertising and digital media revenues, that sector appears to be performing better than the advertising industry average. This is great news for all of us working in the digital marketing sector and I would suggest not a surprise.
WPP said combined "direct, Internet and digital" revenues total $2.6 billion for the third-quarter of 2009, or 26% of WPP's total revenues, which is a point greater than the company had been attributing to the sector's share recently.
Source: Media Post News
Written on Saturday, 31 October 2009 22:26 by Matt McDougall
