French multinational marketing company Publicis Groupe, the parent company of Qorvis/MSLGroup among other advertising and PR firms, shared its Q1 earnings, and the data is concerning, to say the least.
In North America, Publicis Groupe’s organic revenue grew 0.5 percent, but the results in regions of the world further along the COVID-19 curve give some insight into what is headed our way:
- In China, Publicis Groupe’s organic revenue declined 15.3 percent in Q1 due to the COVID-19 pandemic
- In Europe, the company’s organic revenue declined 9.2 percent
- In Latin America, organic revenue declined 10.9 percent
Jay Pattisall, principal analyst at Forrester, notes in the Ad Age article by Lindsay Rittenhouse, “If Publicis Groupe’s first quarter 2020 organic revenue decline in China is any indication for what’s to come for Europe and (the) United States, then the second half of 2020 will be an enormous challenge.”