On the day that Omnicom scheduled to publish its fourth quarter and full year 2020 results, Omnicom Media Group was reportedly hit by a cyber attack. According to AdAge who broke the story, the media agency has now turned the investigation over to third-party experts to identify the hackers.
OMG said in a statement it has experienced “disruption to parts of its IT network” in recent days, which was caused by a cyber incident. According to the story, OMG said it is confident that “no data is at risk.” While this has resulted in interruptions for some of its agencies outside of the US, operations are reportedly normal and “made significant progress” on reinstating the functionality of the affected systems.
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The agency posted a net income of $313.3 million in the third quarter of 2020 compared to $290.2 million during the same period in 2019. According to the network agency, global revenue for Q3 2020 dipped 11.5% to US3.21 billion as a result of the negative effects of the COVID-19 pandemic. Revenue for its advertising discipline dipped 11.7% compared to Q3 2019, while CRM CX decreased 19.3%. Meanwhile, CRM execution and support dipped 19.4%, and PR dipped 3.4%, while healthcare increased 3.8%.
OMG is not the only ad agency to have been impacted by a cyber attack. On 27 June 2017, a number of WPP companies were the victims of a ransomware attack worldwide.
The company will also host a conference call to review the financial results on Thursday, February 18, 2021 starting at 8:30 a.m. ET. Participants may listen to the conference call by dialing (877) 336-4440 (domestic) or (409) 207-6984