NEW YORK: PR firm holding companies reported across the board recession-induced declines in their earnings reports for Q1 2009 this week.
Omnicom Group PR revenues declined 17.4% to about $260 million for Q1 ending March 31, 2009 compared to the same period last year. PR makes up 9.5% of the holding company's overall earnings. Omnicom is the industry's largest holding company by revenues with agencies including Fleishman-Hillard, Ketchum, and Porter Novelli, among others.
Companywide, Omnicom reported net income of $164.5 million on revenues of about $2.75 ...