Omnicom delivered solid Q1 results, offering more evidence that brands are again ramping up spending following a quiet period for marketing activity. Publicis Groupe, a rival, also rode tailwinds in the opening stretch of 2024, with organic revenue increasing 5.3%.
One earnings highlight for Omnicom was Flywheel Digital, an e-commerce firm it bought from Ascential for $835 million last year. The group’s largest acquisition to date, Flywheel Digital aims to shore up a pitch around digital commerce and retail media as marketers prioritize performance know-how. Flywheel Digital, which has about 2,000 employees, sits as a standalone practice within the network and touts a commerce cloud that, combined with Omnicom’s existing solutions, aims to provide clients with a way to track the marketing funnel end-to-end.
