According to a couple of the ad industry's biggest biggies, we have nowhere to go but up. Spoken like a die-hard optimist, right? As reported by the Wall Street Journal, Global ad Omnicom Group Inc. and Publicis Groupe SA reported significant declines in revenue and profit, but indicated a bottom may be at hand in the global advertising downturn.
"We don't see a recovery, but we feel we've hit the troughs," said John Wren, chief executive of Omnicom. He added that it will take a couple of quarters to cycle through the current downturn, and a couple more before growth comes.
"We believe the worst is behind us," said Publicis Chief Executive Maurice Lévy. "
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