Q2 2025 earnings highlighted a widening gap among the major advertising holding companies. Publicis Groupe posted 5.9% organic growth and won major accounts from WPP and IPG, including Mars and Paramount. Omnicom remained stable at 3% growth, while Interpublic shrank 3.5% organically but improved margins ahead of its acquisition by Omnicom. WPP fared worst, slashing its full-year forecast and citing client losses and macroeconomic uncertainty. As brands tighten budgets and demand results, winners like Publicis are doubling down on performance and AI tools. The sector is consolidating—and only the most adaptive players are poised to thrive.

The news: Fox News is seeing a rise in ad revenues as advertisers look to curry favor with the Trump administration, per a Financial Times report. Advertisers are hoping to reach “an audience of one,” per Fox’s head of ad sales, after it was revealed that President Trump is a regular viewer of the channel. Our take: Ad spending is becoming increasingly political, influenced by who holds power, what media they consume, and how brands position themselves in a partisan media environment. Brands are increasingly expected to take a stance—even if it means aligning themselves with controversy.

The news: The FTC has conditionally approved Omnicom’s $13.5 billion acquisition of IPG, but with a historic behavioral restriction: the merged ad giant is barred from coordinating ad placements based on political or ideological content. This addresses rising concerns over informal industry efforts to blacklist partisan publishers, especially those on the right. Our take: The ruling sends a clear warning that media buying behavior is under federal scrutiny. While brands can still control where their ads appear, holding companies must now walk a tighter line. The age of unregulated middlemen in ad placement may be ending.

The news: The pending Omnicom Group and Interpublic Group merger is facing a new hurdle, per a New York Times report. The Federal Trade Commission is reportedly considering adding restrictions on Omnicom and IPG that would stop the merger unless the new company agrees to a ban on ad boycotts that would prevent it from refusing to host clients’ advertisements on platforms because of political reasons. Our take: If the FTC proceeds, the decision will have a ripple effect on the advertising industry as a whole, emphasizing that advertisers are increasingly faced with choosing between brand safety and legal pushback.

M&A activity in the marcom space fell 37% in 2024: The decline shows a field in peril—but preparing for a rebound promises success.

WPP Q1 revenues decline 5% YoY: Another disappointing quarter could spell trouble ahead for the company if it doesn’t enhance its value proposition.

Omnicom expands Creo into a global brand: The agency will unify creator strategy across markets, blending AI tools, media partnerships, and performance goals.

The Big Four data war: Omnicom and Publicis are pulling ahead in AI and productivity tools. How will others respond?

The 2024 US presidential election ushered in a new normal in brand safety, with prominent social media companies such as X and Meta shifting the burden of content moderation from internal teams and contractors to users.

FTC escalates Omnicom-IPG merger review: The $13 billion deal faces regulatory scrutiny over potential impacts on media competition and pricing power.

R/GA exits IPG, embracing AI-led innovation: A $50 million investment fuels its future as it competes against consolidating agency holding companies.

What Q4 tells us about the big four agencies: Omnicom and Publicis enjoyed strong quarters as they prepare for Omnicom’s IPG acquisition.

What Omnicom-IPG’s tepid revenue outlook means: The two ad giants could upend agency dynamics, but tech firms are the industry’s real power brokers.

On today's podcast episode, we discuss where the content production dollars will be going, what the Omnicom and IPG deal will mean for the agency client relationship, and how the antitrust and other legal cases against Amazon, Apple, Google, Meta, and TikTok will play out in 2025. Tune in to the discussion with Senior Director of Podcasts and host Marcus Johnson, Vice President of Research Jennifer Pearson, and Vice President Paul Verna.

On today's podcast episode, we discuss why Omnicom and IPG are merging, and who will be most impacted as a result. Tune in to the discussion with Senior Director of Podcasts and host Marcus Johnson, Senior Director of Briefings Jeremy Goldman, and Analyst Daniel Konstantinovic.

Major advertising holding companies take divergent approaches to return-to-office policies: Employee retention and satisfaction hang in balance.

What Omnicom and Interpublic’s merger means for the industry: The Big Four will become the Big Three in a move that shifts industry power dynamics.

Edelman wants to rely less on top-funnel brands: Layoffs show the company attempting to diversify revenues and meet demand for marketing services.

Return to office comes for the ad industry: Publicis laid off hundreds of employees who didn’t comply with RTO. How is the rest of the Big Four approaching it?

The ad agency ecosystem is vast, complex, and ever-changing. It now faces changes brought on by AI and clients’ shifting preferences over how and where to spend their advertising dollars.