Advertising Earnings: Havas Digital Cake Grows; Aegis Sales Slow
French advertising and marketing group Havas made seven percent higher digital revenues in Q109 compared to Q108 and now says online accounts for 16 percent of total revenue. In an earnings release for the first three months of the year, Havas said it made revenues of €325 million (£288.4 million) —a six percent drop year on year, which the company puts down to reduced client spend particularly in the US. Revenue from the UK was down just 1.6 percent. Release (pdf).
SEE ALSO: Earnings: Media Buyer Aegis Cutting 780 Jobs Despite Revenue, Profits Rise
Aegis Group, owner of the Carat ad agency and Synovate, on Monday announced its Q109 revenues fell by 11.6 percent year on year at constant currency rates—although the company is keen to point out it enjoyed an “unusually high” Q108 which saw Aegis Media revenues alone grow 29.9 percent. The drop in revenue is also due to big client losses such as Renault in the EMEA, but also won $1 billion of new business in Q1 which will it says will offset any future losses. Aegis is in the process of cutting 780 jobs in response to the global downturn, a move it says will “produce a resilient performance” for 2009. Release.
Posted In: Advertising, Marketing, Money, Earnings, Countries, Europe, France
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