NEW YORK: Advertising Age's so-called AdMarket 50 – an index of the top fifty publicly-listed advertisers, media companies and agency groups – replicated its big brother, the Dow Jones Industrial Average, when on Wednesday the latter plunged 514 points (5.7%) amid feeble earnings reports and rising gloom about an extended recession.
Of the fifty companies listed in the adland index, all but one dove downward – collectively losing 5.2% of their value. The exception?
Yahoo, believe it or not!
The beleaguered search giant rose 2.7%, possibly on speculation that it is poised to reach a deal with Time Warner unit AOL.
Pain without gain was maximized among the four global agency holding companies. The steepest faller was WPP Group, down 11.5%, followed by Omnicom Group (-9.3%), Interpublic Group (-8.9%), each sinking to a 52-week low. Publicis Groupe remained static
To view the fortunes of the entire AdMarket 50, click here.
Data sourced from AdAge.com and Bloomberg.com; additional content by WARC staff