Edelman reported declines in industries where clients made significant budget cuts, such as healthcare (12%), technology (8%), and financial services (14%). However, there was a 15% increase in the food and beverage sector.
Among its top 100 clients, including Microsoft, Starbucks, DP World, and HP, Edelman saw 6% growth in 2023. The agency also secured projects from Mark Anthony Brewing and played a key role in the global climate conference COP28 in Dubai.
One of Edelman’s successful campaigns in the US was the Dupe Swap initiative for Lululemon. The agency is also assisting Allegra with the launch of Allegra Airways, a tool to map routes with the best air quality, in March.
While Edelman lost a global account with Advanced Micro Devices and experienced some client pullback from companies like Paypal, Adobe, and Samsung, it remains optimistic about its future growth.
Despite laying off 4% of its workforce in July 2023, Edelman’s CEO stated that there are no plans for further job cuts this year due to the agency’s improved performance.
Looking ahead to 2024, Edelman anticipates returning to growth as clients show increased confidence in spending. The agency made strategic hires and promotions, signaling its commitment to expansion and innovation.
Notable changes within the agency include new leadership appointments and departures, reflecting a period of transition and evolution in response to market dynamics.
This story was updated with additional information.
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