Ad agency holding companies say they are being hurt by more cautious technology advertising.
At Meta Platforms, for instance, outlays for marketing and sales decreased 24% in the third quarter.
Photo: kena betancur/Agence France-Presse/Getty ImagesSome of the major advertising holding companies are still feeling the impact of lower spending from technology clients—with some hit harder than others.
Recent quarterly results from Interpublic Group , Omnicom Group , WPP and Publicis Groupe showed that many of their units are seeing more caution from some advertisers, slower project work, delayed starts of new business or other signs of a pullback.
Persons:
kena
Organizations:
Agence France, Interpublic, Omnicom, WPP, Publicis Groupe