The Interpublic Group of Companies Inc (Interpublic) provides advertising and marketing services. The company specializes in consumer advertising, digital marketing, communications planning, and media buying, public relations and specialized communications disciplines. It also provides centralized functional services to clients to enable them to achieve operational efficiencies in the areas of accounting and finance, executive compensation management and recruitment assistance, employee benefits, marketing information retrieval and analysis, internal audit, legal services, real estate expertise and travel services. Interpublic offers its services under McCann Worldgroup, Foote, MullenLowe, Acxiom, Cone & Belding, IPG Media Lab, MAGNA, Orion Holdings, Rapport, Reprise, MRM, CRAFT, Weber Shandwick, Golin, Octagon and other brands.
The total amount of money charged to clients and marketers for marketing endeavours in order to make revenue is known as billings. Gross billing is defined as the total amount of money that customers pay the business after discounts and rebates have been deducted.
The company uses gross billing to assess its business growth, market share, and scale of operations, and the ability to generate gross billing is strongly correlated to the company's ability to generate net revenues.
The Interpublic Group of Companies gross billing rose from $996.5 million in FY2020 to $1,132.8 million in FY2021, an increase of 13.6%. The sale of advertising on the Interpublic platform was the main factor in the revenue growth. The company's gross billings increased by $136.3 million from 2020 to 2021, accounting for the 11.06% of total revenue. Billable to clients accounts receivable increased to $2,347.2 million in 2021 from $1,820.7 million in 2020.
The majority of chargeable expenses are costs related to performance obligations where a third party vendor has determined that the company were acting as principal. These third-party expenses are generally billed back to their clients. Billable costs also include all additional costs incurred while providing their services, such as travel expenses, hotel stays, out-of-town meals, and telephone fees.
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