BARCELONA Nov 15 French advertising group
Publicis struck a cautious note on the prospects for
global advertising at the end of 2012 and 2013, saying they did
not know how their clients would react in the future.
Chief Operating Officer Jean-Yves Naouri was asked for his
thoughts on the future of ad markets at an investor conference
run by Morgan Stanley, where rival groups WPP and
Omnicom had already laid out their thoughts.
The advertising industry is renowned for its high-profile
executives who give a running commentary on the state of the
An announcement by Publicis that organic revenue had grown
by 7 percent in October after an industry-wide slump in
September was described as "incredible, in every sense of the
word" by the WPP Chief Executive Martin Sorrell on Wednesday.
"The main answer is we don't know," Naouri said, after
explaining that clients in Europe were very cautious and the
United States tough.
"We don't know what will happen by the end of the year, we
don't know if we will see some clients adjusting their numbers
by cutting their marketing expenditures. This is something that
we have witnessed in the past.
"So we are not giving any strong perspective for the end of
this year or the next as it's too early to tell."
Omnicom said on Wednesday that it was more optimistic about
2013 while WPP said it was remaining cautious.
Naouri said the French group, the world's third largest
advertising company, had been surprised in September when some
of its projects were delayed. But he said this has been merely a
"And we have been reassured to see that those projects have
been delivered in October, so that explains why September and
October were upside down.