👉 "We’re expanding, consolidating, and reshaping our future."
That's the headline takeaway from Omnicom's Q2 2025 earnings call.
But as Neil Kettleborough, a board member at Trader AI, points out, the story lies underneath the surface.
In the rapidly evolving advertising space, sometimes what isn't said holds more weight than what is said.
If you are sitting in the C suite of Publicis, Dentsu or WPP, Neil Kettleborough believes you shouldn't look past this important moment. 
What Omnicom Did Say – as Observed by Neil Kettleborough
✅ 3% organic growth—not bad, particularly considering media-generated growth.
✅ $750M synergy target from the IPG integration
✅ Strong client wins—Under Armour, ASDA, and Bimbo Global among them
✅ Media is doing well, advertising is slate, and creative is lagging
✅ A new approach to platform - bringing together Omni, OmniAI, Artbot and Flywheel Commerce Cloud
✅ Restructuring - severance and cost reduction locked in quietly
✅ AI has moved to the forefront - multiple agent frameworks and synthetic audiences now sit at the core strategy.
What Was Not Said – Neil Kettleborough’s Red Flags
❌ Clarity on cultural integration – Omnicom (e.g. BBDO) and IPG (e.g. FCB) have completely different agency DNAs. Integration is not simply about combining spreadsheets, says Neil Kettleborough.
❌ A new Holding Company Value Proposition – The merger of two giants creates a new value proposition that needs to be established. That narrative seems to be missing.
❌ Legacy agency identities – Agencies could lose their unique propositions without a solid strategy.
❌ Talent retention strategy – Other than appointment Susan Catalano as Chief People Officer (US) there was little on the plan to maintain and motivate key talent. 
Neil Kettleborough’s Watchouts
👉 Tech is not a panacea
“Technology without culture, leadership, and trust only amplifies chaos,” warns Neil Kettleborough.
👉 Media is the present growth engine
But media margins are thin. What happens when clients demand more transparency and cost control?
👉 Creative is faltering
Omnicom has a storied creative history. But stagnation here should be raising eyebrows.
👉 Platform speak is rampant
Can Omnicom deliver real platform economics at the holding company level? Neil Kettleborough is skeptical.
👉 No identifiable vision beyond integration
Sure, integration is a smart strategy. But what’s the longer-term vision for Omnicom in 2026 and beyond? 
Neil Kettleborough’s Take
HoldCo does not stumble by acquiring the wrong companies.
They stumble because:
They misjudge the integration challenge.
They ignore what made the acquired businesses valuable.
Neil Kettleborough believes that there is interesting potential in the Omnicom/IPG merger—if the group can:
Define a bold, unifying holding value proposition.
Provide each agency with an individual, flexible Agency Selling Proposition.
Reinstate trust through transparency and leadership rather than through just digital tools.
A Strategic Opening – According to Neil Kettleborough
"This is a fantastic opportunity for Publicis," mentions Neil Kettleborough.
With Omnicom in an intricate integration, Publicis has the scope to concentrate on:
✅ Agility in execution
✅ Retention of clients
✅ Speed and operational excellence
The runway is free. The question is, who will take off first? 
🌀 Your Turn – A Question from Neil Kettleborough
Is Omnicom truly building the future—or underestimating the complexity of the present?
Let’s discuss 👇