v3.24.2
Revenue
 6 Months Ended
Jun. 30, 2024
Revenue [Abstract]  
Revenue Revenue
Nature of our services
We provide an extensive range of advertising, marketing and corporate communications services through various client-centric networks that are organized to meet specific client objectives. Our networks, practice areas and agencies provide a comprehensive range of services in the following fundamental disciplines: Advertising & Media, Precision Marketing, Public Relations, Healthcare, Branding & Retail Commerce, Experiential, and Execution & Support. Advertising & Media includes creative services across digital and traditional media, strategic media planning and buying, performance media and data analytics services. Precision Marketing includes digital and direct marketing, digital transformation consulting, e-commerce operations, media execution, market intelligence and data and analytics. Public Relations services include corporate communications, crisis management, public affairs and media and media relations services. Healthcare includes corporate communications and advertising and media services to global healthcare and pharmaceutical companies. Branding & Retail Commerce services include brand and product consulting, strategy and research and retail marketing. Experiential marketing services include live and digital events and experience design and execution. Execution & Support includes field marketing, sales support, digital and physical merchandising, point-of-sale and product placement, as well as other specialized marketing and custom communications services. At the core of all our services is the ability to create or develop a client’s marketing or corporate communications message into content that can be delivered to a target audience across different communications mediums.
Economic factors affecting our revenue
Global economic conditions have a direct impact on our revenue. Adverse economic conditions pose a risk that our clients may reduce, postpone or cancel spending for our services, which would impact our revenue.
Revenue by discipline:
Three Months Ended June 30,
Six Months Ended June 30,
2024202320242023
Advertising & Media$2,046.8 $1,911.5 $3,953.6 $3,688.0 
Precision Marketing438.8 369.0 877.0 729.0 
Public Relations418.2 393.6 808.5 769.1 
Healthcare353.1 349.3 676.7 667.7 
Branding & Retail Commerce199.3 210.5 399.5 420.1 
Experiential186.1 164.4 346.0 312.2 
Execution & Support211.5 211.6 423.0 467.1 
Revenue$3,853.8 $3,609.9 $7,484.3 $7,053.2 
Revenue by geographic market:
Three Months Ended June 30,
Six Months Ended June 30,
2024202320242023
Americas:
North America$2,148.4 $1,978.8 $4,189.3 $3,905.6 
Latin America106.4 84.6 202.9 158.6 
EMEA:
Europe1,101.9 1,045.6 2,107.7 1,997.5 
Middle East and Africa65.6 62.6 145.2 147.5 
Asia-Pacific431.5 438.3 839.2 844.0 
Revenue$3,853.8 $3,609.9 $7,484.3 $7,053.2 
The Americas is comprised of North America, which includes the United States, Canada and Puerto Rico, and Latin America, which includes South America and Mexico. EMEA is comprised of Europe, the Middle East and Africa. Asia-Pacific includes Australia, Greater China, India, Japan, Korea, New Zealand, Singapore and other Asian countries. Revenue in the United States for the three months ended June 30, 2024, and 2023 was $2,033.4 million and $1,850.6 million, respectively, and revenue in the United States for the six months ended June 30, 2024, and 2023 was $3,959.3 million and $3,662.8 million, respectively.
Contract balances
Contract balances include work in process and customer advances, which primarily consist of advance billings to customers in accordance with the terms of the client contracts, primarily for the reimbursement of third-party costs.
June 30, 2024December 31, 2023June 30, 2023
Work in process:
Media and production costs$843.9 $664.4 $797.1 
Unbilled fees and costs and contract assets956.1 678.1 840.9 
Work in process$1,800.0 $1,342.5 $1,638.0 
Customer advances$1,262.1 $1,356.2 $1,159.7 
There were no work in process impairment charges recorded in the six months ended June 30, 2024 and 2023.