Oct 26, 2026 · 33 min · 12 segments
**Welcome to Agency Business.** This week Jeff Rogers, CEO and managing partner/founder of Salt XC joins the podcast. *The Agency Business podcast is part of the…
Brian WieserHost
Olivia MorleyHost
Omnicom always a little bit or more than a little bit confusing, which is what keeps people like me gainfully employed trying to explain it.
We at Massimo will, of course, estimate that the real number on a like-to-like basis is probably closer to flat because it appears that all of the growth came from third-party service cost growth, which is to say principle-based trading.
And as we've noted, again, here at Convassimal, that the profit margin profile of Omnicom is the best in the industry.
if you look at them with the net revenue basis that every other agency's comparable uses.
Jeff, I don't know if you want to chime in on Omnicom specifically, but maybe I would love to get your take on the broader agency growth rate that you're seeing.
Again, even if you don't pay attention to it, if we know that like for like, Google says let's call it a plus five.
two and on comma zero and so you get a plus two percent environment one thing we've been calling out here is that markers generally speaking they might be collectively increasing their budgets by on our estimates low double digits right now individual markers might be mid singles but collectively because of new markers showing up and different markers who don't use agencies maybe it's a low doubles but markers are continually putting pressure on their so-called non-working spent And they're trying to drive those costs down as much as possible.
And so, hey, if you're a media agency, you should do what Omnicom's doing and try to drive more principle-based trading.
One is, I mean, do you feel like that's kind of the market and you're just taking share? Love to get your thoughts on that.
I think there's new share being developed if you look at it as a commercial spend of sales and marketing, right? Back to the commerce world.
Omnicom always a little bit or more than a little bit confusing, which is what keeps people like me gainfully employed trying to explain it.
We at Massimo will, of course, estimate that the real number on a like-to-like basis is probably closer to flat because it appears that all of the growth came from third-party service cost growth, which is to say principle-based trading.
And as we've noted, again, here at Convassimal, that the profit margin profile of Omnicom is the best in the industry.
if you look at them with the net revenue basis that every other agency's comparable uses.
Jeff, I don't know if you want to chime in on Omnicom specifically, but maybe I would love to get your take on the broader agency growth rate that you're seeing.
Again, even if you don't pay attention to it, if we know that like for like, Google says let's call it a plus five.
two and on comma zero and so you get a plus two percent environment one thing we've been calling out here is that markers generally speaking they might be collectively increasing their budgets by on our estimates low double digits right now individual markers might be mid singles but collectively because of new markers showing up and different markers who don't use agencies maybe it's a low doubles but markers are continually putting pressure on their so-called non-working spent And they're trying to drive those costs down as much as possible.
And so, hey, if you're a media agency, you should do what Omnicom's doing and try to drive more principle-based trading.
One is, I mean, do you feel like that's kind of the market and you're just taking share? Love to get your thoughts on that.
I think there's new share being developed if you look at it as a commercial spend of sales and marketing, right? Back to the commerce world.
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