IPG's 'solid' start to 2024 as marketer sentiment improves

Chris Pash
By Chris Pash | 25 April 2024
Credit: Ricardo Rocha via Unsplash

IPG reported a “solid“ start to the year, posting 1.3% organic growth in net revenue to $US2.18 billion for the March quarter, consistent with 2024 targets.

Data and tech driven media offerings, healthcare marketing and public relations performed “strongly”.

The global advertising group expects full year organic growth of between 1% and 2%.

However, a recent decision by a significant client will likely make achieving the top end of that target more "challenging".

“Marketer sentiment has begun to improve relative to the back half of last year, and the new business pipeline is more active,” said CEO Philippe Krakowsky.

The result is at the lower end of March quarter numbers so far reported by global peers.

Omnicom reported better than expected organic revenue growth of 4%.  Publicis Groupe posted organic growth of 5.3% 

Krakowsky said IPG continued to enhance offerings, further embedding precision and performance into media solutions, including retail media services,.

“We are also progressing in the integration of technologies such as generative AI into the core of our marketing services capabilities, notably through our recently-announced partnership with Adobe, which speeds content ideation, creation, production and activation,” he said.

“By deploying proprietary best-in-class Acxiom data and identity products into our enterprise-wide marketing engine, we can create a more accurate picture of consumers and deeper connections with brands, all in the service of helping marketers drive growth and achieve business outcomes.” 

March quarter 2024 numbers:
IPG march q 2024 from results presentation

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