TVNewser Show TVNewser AgencySpy TVSpy LostRemote FishbowlNY FishbowlDC SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

WPP Q3: Overall Revenue Down 8.7%, PR Sector Down 8.5%

Wpp 2009 q3 Trading Update Oct09 Guid580954ab4d844

WPP Group (WPPGY), the largest of the major holding agencies, reported Q3 earnings today. Revenues in the Public Relations and Public Affairs were down 8.5% in Q3 on a like for like basis, to $312.6 million. This is a “relative improvement” the company said in a statement, after a 9.7% drop in the second quarter.

Overall revenues were down 8.7% on a like for like basis. On a non like for like basis, which takes into account the WPP’s acquisition of media intelligence company TNS, revenues were up 16%. The company did not mince words in a statement released today:

There is little doubt that consumer and corporate confidence has recovered somewhat from the panic levels of the fourth quarter of 2008 and first quarter of 2009. Confidence, however, remains fragile amongst consumers, because of the shadow of high unemployment levels and amongst corporates, because Armageddon and Apocalypse now were barely avoided in September 2008. Whilst the hearts of CEOs and CMOs are stronger and their minds clearer, increased confidence is still not transferring to their cheque-writing hands.

WPP also noted that it had reduced global headcount by 10% since December 31, 2008. The company’s PR holdings include Hill & Knowlton, Ogilvy Public Relations Worldwide, Burson-Marsteller and Cohn & Wolfe.

Mediabistro Course

Storytelling for Media Professionals

Storytelling for Media ProfessionalsStarting April 22, this in-person workshop will teach you the specific ways to incorporate storytelling into your personal and professional life. Students will examine the role of storytelling in business and put their newfound skills into practice with a series of improvisation, writing, and presentation exercises designed to help them uncover personal stories. Register now!