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'Disappointed Again': Ad Companies Suffer as Tech Firms Clip Spending - The Wall Street Journal

Author: The Wall Street Journal

Source: https://www.wsj.com/articles/disappointed-again-ad-companies-suffer-as-tech-firms-clip-spending-38d5b778

Image of 'Disappointed Again': Ad Companies Suffer as Tech Firms Clip Spending - The Wall Street Journal

Ad 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.Photo: kena betancur/Agence France-Presse/Getty ImagesSome 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.Copyright ©2023 Dow Jones & Company, Inc.All Rights Reserved.87990cbe856818d5eddac44c7b1cdeb8

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