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IPG reports caution on 2023 trends

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February 10, 2023

IPG, an international marketing firm, is cautious in its 2023 predictions, in part citing slowed organic growth in December 2022, according to a report in AdNews.

IPG predicted 2% to 4% growth for investors, after organic growth slowed to 3.8% in December 2022 along with flattening of revenue; net revenue reached $2.55 billion while total revenue, including billable expenses, was $10.9 billion, according to the report.

"As we look ahead, the macroeconomic situation remains uncertain," Philippe Krakowsky, CEO at IPG, said in the report. "Marketers are approaching 2023 with conviction in the need to stay invested and be in the marketplace, as well as a degree of caution. We're confident that the strongest growth areas of our business, such as consultative media services, healthcare marketing, experiential marketing and commerce, all supported by our best-in-class data capabilities and creative assets, will continue to perform despite the current economic headwinds. We expect organic net revenue growth for 2023 of 2% to 4%, on top of our very strong multi-year performance, and to further expand our adjusted EBITA margin to 16.7% for the full year. Strategically, we'll continue to build on IPG's evolution to a higher value solutions provider. Our strong balance sheet and commitment to financial flexibility remain key priorities."