Omnicom Group Inc. (NYSE:OMC) Q4 2023 Earnings Call Transcript

’22, for sure, was a much more robust time frame. I think when we were — when we were having discussions in late ’22 and early ’23 and probably on our call in February ’23. Yes, there are a lot of clouds that people saw on the horizon in this short term that actually turned out not to be as dark as some had expected. But the fourth quarter environment in 2022 is certainly much more robust than it was this year. But we’re happy with the performance of agencies as far as capturing project spend in Q4 of ’23. But relative to ’22, certainly on ’22 is more robust.

John Wren: And don’t lose sight of the fact that in ’24 as we get into it, we do have the Olympics. We do have a presidential election, and it’s been my experience that presidential election years are generally very good one way or the other for the economy, and there gets to be some tension in the media marketplaces, especially in the U.S. as you get later in the year. So that makes people, fosters people to make decisions sooner. And if the Fed comes through and starts to cut, that will be the beginning of, I think, fuel to aid in the outcomes that I just suggested will be there. So we’re cautious, but we are optimistic.

Craig Huber: Great. Thank you both.

Operator: And with that, at this time, there are no other further questions. That does conclude our conference for today. Thank you for your participation and using AT&T conferencing service. You may now disconnect.