Publicis sings the recovery tune
ADOTAS – Recovery fever has passed the boundaries of the search world as advertising giant Publicis Groupe announced during its third-quarter earnings call that new business is looking alive once again.
With Razorfish now part of its VivaKi unit, the French company said organic growth slipped only 7.4% in the third quarter, compared to 8.4% in the second quarter, which points to bottom over the summer. Granted, it’s hard to dance a jig over a smaller contraction, but we’re still in a “less bad is good” environment.
Fourth quarter is looking up and the company is expecting growth to return during the second half of 2010. But don’t crack open the champagne just yet: “The recovery will be slow, but all the signs we have are going in the right direction,” CEO Maurice Levy cautioned.
Google almost infamously now called an end to the ad recession recently, but Publicis is the first company on the other side of the equation to buffer this claim. It’s another sign that talk of a turnaround going about the industry may be more than just chatter.
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