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https://www.wsj.com/articles/disappointed-again-ad-companies-suffer-as-tech-firms-clip-spending-38d5b778Ad agency holding companies say they are being hurt by more cautious technology advertising. At Meta Platforms, for instance, outlays for marketing and sales decreased 24% in the third quarter.Some of the major advertising holding companies are still feeling the impact of lower spending from technology clients—with some hit harder than others.
Recent quarterly results from Interpublic Group, Omnicom Group, WPP and Publicis Groupe showed that many of their units are seeing more caution from some advertisers, slower project work, delayed starts of new business or other signs of a pullback.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.