More bad news in advertising outlook
And Interpublic Chief Executive Michael Roth said clients’ spending plans were under pressure from the financial crisis.
“While we believe that with our strong performance year to date we remain positioned to achieve our financial objectives for 2008, the impact of an increasingly unsettled and volatile business environment on our sector is not yet clear and creates a risk to meeting our stated goals.”
Even Martha Stewart’s Omnimedia machine said advertising revenue in its publishing division fell in the third quarter, and ad results in the current quarter are down so far.
All this after Omnicom last week said some of its retail and automotive clients had begun to cancel some spending plans.
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