Omnicom Group Inc. (NYSE-OMC) reported a 14.9% decline in PR revenues as part of the company’s Q3 earnings, released today. The PR decline is in line with the holding company’s worldwide revenue, which decreased by 14.4%. However, the decline is more than the company’s advertising holdings, which declined 11.6%. Year to date, PR has declined 16.7% and accounts for $798m in revenue. Advertising has declined 13.5% and accounts for approximately $3.7b in revenue.
The company’s stock is down $.48, or about 1.2% as of 9:40 ET this morning. Omnicom’s PR holdings include Fleishman-Hillard, Porter Novelli, Ketchum, and Brodeur.