Omnicom Group Inc. Goldman Sachs Communacopia + Technology Conference 2026

Sure. It has been 9 months or so since we closed the deal, and we spent probably the better part of almost a year planning for the integration. We certainly had a lot of familiarity with Interpublic Group's assets leading up to the transaction. We're quite pleased with how the integration has gone. In particular, I would say that the integrated media business has come together quite quickly and quite well, somewhat seamlessly, in bringing two very large global organizations together. We've certainly seen the benefits of that kind of from day one. The scale that we've achieved in that business in particular has been quite helpful for the business and our growth. We're pleased with that. We're also pleased with the progress we've made with Omni and the integration with Interpublic Group's platform, Interact.

We've kind of taken the best of what both had to offer, integrated them together, and continued to make investments to evolve the platform itself. We've made quite a bit of progress in that area, including agentic AI, integrating Acxiom data and the Acxiom business into the Omni platform, as well as getting Acxiom and our integrated media business and our other businesses working together more closely. I think there's still a lot of work to be done there and progress to be made, but that was certainly one of our goals and one of the opportunities we viewed in the deal, was to get Acxiom more integrated into the business to drive growth. We're pleased with that. We're certainly also pleased with the progress we've made in terms of achieving the cost reduction synergy targets that we set out.

There's still a ways to go in the second half and beyond, but we made a lot of progress there. I think the biggest challenge we've faced has been in the advertising business in bringing together both Interpublic Group portfolio and the Omnicom portfolio. It was certainly not an integration challenge that we didn't anticipate, but we probably made the most changes in that business coming together on a global basis than any of our other businesses. We've gotten rid of or eliminated a number of brands. There's been a lot of activity in that business and a lot of challenges in bringing that together. I think we're largely through that process. There's still an evolution to come, but I think that's been our biggest challenge.

Mm-hmm. I think that was probably a number that was referenced in the press about right around when we announced and closed the deal, so say December of 2025. Obviously, a rough estimate of where we expect it to be, but we think that's a pretty good estimate in terms of what we're going to be able to achieve by the time we get to, say, post one year, by the end of the year 2026. That number includes, in addition to headcount reductions from synergies, largely due to duplicative corporate costs and duplicative regional management and other areas of opportunity when it comes to outsourcing and offshoring. There is also a component of that relates to the dispositions that we've been doing.

Not yet complete, but a lot of progress in that area, and we expect to be largely complete with that by the end of the year. The number that we had disclosed at the end of 2025, I think, was about 120,000 in headcount. It was probably a bigger number if you combined Omnicom and IPG, if you go back to 2024, just the nature of the business changes have been happening. But those headcount changes really have not impacted client-facing people very much at all. Except for if we lose a client or win a client here and there might be some shifts across our agencies. But in terms of a rough estimate, I think that's certainly one we're comfortable with. But we'll see what happens over the next few months here.

Yeah. Yeah. It's not going to be a perfect number, but I think that's a Okay pretty good estimate.

I think the 4% to 5% is what we expect right now. I think we're typically somewhat conservative. We don't want to get ahead of our skis in terms of our expectations, especially given kind of the items that we can't control, the geopolitics of the day and some of the uncertainties that are out there. But we're certainly comfortable with the 4.5% to 5% for the year. We benefited certainly from the World Cup in our experiential businesses in the second quarter. We expect there'll be a little bit more benefit in the third quarter, not in the fourth. The U.S. national elections will help a little bit in the PR business in the second half, but not quite to the extent that a national election with a presidential election, as well, would benefit the business.

I'm not quite sure we have a number yet for how much of the annual estimate, the 4.5% to 5%, will be coming from those businesses, because there's still some time to play out here. But I think as we look into 2027, we don't see there being a dramatic downturn in terms of our growth rate and the possibilities. There's a long time between now and 2027, and we haven't done our planning process yet. But there are going to be some reductions year on year and some difficult headwinds in the experiential business and perhaps a little bit in PR. But there'll also be some other parts of the business that we expect will improve, especially in the area of probably our healthcare business.

They've had some challenges in 2026, and we've certainly got a great franchise when you bring together Omnicom and IPG's health businesses. So we have high expectations for them going forward.