Jul
30
Publicis Omnicom Group Won’t Beat WPP in Size in China
Posted in: Uncategorized
What impact will the Publicis-Omnicom merger have on the industry landscape in the highly competitive China market? One thing is clear: WPP will remain the biggest holding company.
The combined company will be twice the size of WPP in the U.S., but in China, WPP will continue to dominate. CEO Martin Sorrell said WPP currently earns $1.5 billion in revenues in Greater China.
Publicis and Omnicom don’t release financial data for the market specifically. Beijing-based consulting firm R3 estimates that 2012 mainland China revenues were $430.9 million for Publicis and $283.2 million for Omnicom. (Estimates converted from renminbi based on average exchange rate for 2012. R3’s estimate for WPP’s 2012 China revenues was $971.4 million.)
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