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»Q2 2020

Mark Read WPP
GroupM Underperforms At WPP As Clients Cut Media Spend

COVID-19 has had an outsize negative effect on GroupM than on the rest of parent company WPP’s business as clients paused and cut back on media spend during the crisis. The holding company did not break out GroupM’s Q2 or H1 revenues, but WPP CEO Mark Read told investors on Thursday that the media buying... Continue reading »
by Alison Weissbrot // August 27th, 2020 //
»
Roku Outperforms Ad Industry, Says TV Spend Won’t Recover Until ‘Well Into’ 2021

Roku did way better than the TV ad market at large in Q2, despite a major pullback in ad spend from brands across the board. Platform revenues, which include advertising, grew 46% YoY to $244.8 million, Roku said Wednesday during its Q2 earnings call. Overall, revenues increased 42% YoY to $356 million in the quarter.... Continue reading »
by Alison Weissbrot // August 6th, 2020 //
»
IPG’s Q2 Was Rough, But Its Work With Healthcare Brands Helped

Holding companies are being bludgeoned by the pandemic, and IPG is no exception. Organic revenue decreased 9.9% in the quarter to $1.85 billion as clients cut back spend in response to the COVID-19 pandemic, the company said during its Q2 earnings call Wednesday. IPG suffered declines in every major region, including the United States (-8%),... Continue reading »
by Alison Weissbrot // July 29th, 2020 //
»
Spotify’s Ad Spend Rebounded In June

After experiencing a slowdown in Q1, ad spend began to rebound at Spotify in June as some markets exited pandemic lockdowns, the company said Wednesday on its Q2 earnings call. Ad spend in April and May were down 25% before inching up to a 10% decline in June. For the quarter, ad-supported revenue increased 11%... Continue reading »
by Alison Weissbrot // July 29th, 2020 //
»
Omnicom Cut 6,100 Jobs In Q2, But Believes The Worst Is Over

Omnicom mitigated the impacts of the COVID-19 pandemic on its business in part by cutting 6,100 jobs across its network in the second quarter, the company said Tuesday during its earnings call. Omnicom also froze hiring, eliminated salary increases, implemented voluntary pay cuts across its agencies and participated in government subsidy programs in 35 markets.... Continue reading »
by Alison Weissbrot // July 28th, 2020 //
»
American Airlines: Lack Of Business Travel Will Crush Fall Demand

Relatively speaking, business started to look up for American Airlines, the company said during its Q2 earnings call Thursday. But don’t expect it to last. As the COVID-19 pandemic obliterated air travel in April, American Airlines burned nearly $100 million per day. With demand rebounding slightly in June, cash burn inched up closer to $30... Continue reading »
by Alison Weissbrot // July 24th, 2020 //
»
Omnicom Projects Double Digit Declines In Q2, Still Evaluating Layoffs

Like its competitors, Omnicom expects steep declines in the second quarter as the COVID-19 pandemic rages on. “In the preliminary forecasts we looked at, the second quarter was the most traumatic,” said CEO John Wren on the company’s Q1 2020 earnings call Tuesday. Omnicom also declined to give guidance for the rest of the year... Continue reading »
by Alison Weissbrot // April 28th, 2020 //
»
 

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