IPG, Like Many Others, Suffering from Severe Lack of Income

According to The Wall Street Journal, Interpublic Group of Cos. reported a 71% drop in second-quarter profit.
The New York-based parent company of DraftFCB and McCann-Erickson reported earnings of $27.8 million, down from $95.1 million a year earlier.
Ouch.
Interestingly, the paper seems to be taking the news in stride. There’s no big article, no line of questioning, tough or otherwise. Maybe it’s up to the bloggers to do the heavy lifting now. I definitely know one guy who’s up to the task.
The fact is no one’s going to cry for IPG or Omnicom or the rest. Many people in the industry feel that consolidation was a horrible idea from the get go.

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About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am head of brand strategy and creative at Bonehook in Portland, Oregon.