Omnicom and Interpublic in talks to merge in $30bn-plus deal to create the world’s largest advertising agency
WPP-owned media agency GroupM says the global advertising industry will surpass $1 trillion in revenue for the first time this year.The global advertising industry will surpass $1 trillion in revenue for the first time this year, with Google, Meta, ByteDance, Amazon and Alibaba expected to earn more than half the total in a market dominated by the technology sector.
The forecast comes as advertising giants Omnicom and Interpublic are in talks to merge in a deal worth more than $30 billion that would create the world’s largest advertising agency and reshape the global marketing industry. The combined US group would probably overtake France’s Publicis and WPP in the UK, which have been vying for the top spot for the biggest holding company in the industry based on net revenues.
Digital advertising is forecast to account for 73 per cent of total revenue by the end of next year – growing at 12.4 per cent globally in 2024 and 10 per cent in 2025 – or 82 per cent when including revenue from streaming and digital newspapers and magazines. The US is the largest advertising market, forecast to be worth about $379 billion in revenues in 2025, despite higher costs of borrowing and more cautious guidance from some retailers including electronics and home improvement stores.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Core’s Aidan Greene: ‘Amazon.ie will be a gamechanger for Irish advertising clients’The marketing communications group grew its net profit to more than €4m last year and has expanded again in 2024
Read more »
The $4 trillion chase is on for Apple and NvidiaTech giant was first to $1tn, $2tn and $3tn landmarks but faces strong competition from AI chipmaker on next market cap milestone
Read more »
Sinn Féin spends more on online ads than other parties combinedElection 2024: Party headquarters spends €91,000 on advertising with Meta and Google over the past four months
Read more »
Wilson Hartnell Parent Company Reports Strong Profit Growth in 2023The parent company of Dublin-based advertising and public relations group Wilson Hartnell has seen a significant rise in profits and turnover in 2023. Accounts reveal a 19% increase in pretax profits to €2.27 million, following a 9.3% rise in turnover to more than €19 million. The company attributes this growth mainly to its public relations and influence business.
Read more »
Technical Storage and Access for Legitimate PurposesExplains the various purposes for which technical storage or access may be necessary, including enabling services explicitly requested by users, transmitting communications, storing preferences, conducting statistical analysis, creating user profiles for advertising, and tracking user activity across websites.
Read more »
Flutter CEO signals bid interest in Italy’s main lottery licenceUS market dominates growth for company, with revenues jumping 51%
Read more »