OMC
#Just give me one second.
That number is ---+ I think the shares number is 2.7 million shares, gross.
Sure.
Well, let me just make the overall statement that right now for the year, we're staying with our guidance.
But on the media wins, they tend to have at least a six month, in some cases even longer, channel to them, when somebody loses an account, and when a new person comes and picks it up.
On the agency business, it tends to be a 90-day changeover period.
And projects, which are a part of our business, as <UNK> was mentioning, when talking about our CRM, those have even shorter windows.
We learn about quite a number of those 60 days in advance.
So if areas across the business, hard to say, when you take a look at something like P&G starting in the second quarter, where we've been hiring ---+ we've been getting, we'll get some partial reimbursement as we incur those costs.
But there really won't be what I'd call revenue growth.
That really starts to kick in, as I said, July 1.
Sure.
Brazil, right now, we don't know necessarily any more than the IMF or anyone else.
So we are planning to face headwinds throughout the rest of the year.
It might get mitigated a little bit in the second half from the Olympics, but we're not certain.
Unless they come up with a cure to the virus they have, God knows what the attendance is going to be.
So Brazil is going to be challenging, I think, for 2016.
But it's not ---+ it's important, but it's, what, less than 1%.
It's about ---+ between 1.5 to 2% of our revenue annually.
So that's with Grupo ABC included in our revenue numbers.
So, while it's a drag, we have very healthy, the most creative businesses in Brazil.
And what our focus is doing there now, is they're trying to optimize revenue, and they're working very hard on their expense basis.
<UNK>, do you want to ---+.
As far as Accuen in the first quarter, growth from Accuen was $25 million.
I'll take the middle question which I think ---+ I have forgotten it.
M&A.
I think what you'll see is M&A as a result of actions that we took last year, I don't even recall.
There is no real outlier in terms of one big disposal.
It's a number of small businesses, actually, across a few different geographies.
We expect that the number in the second quarter, given where we are with acquisitions, completed as of now, will be positive through the rest of the year, probably in the neighborhood of all in for the year about $80 million to $90 million of acquisition contributions, net.
In terms of other businesses, I don't have that number for you.
I'm sorry.
We don't really track it that way, <UNK>.
Because in each of our disciplines, there's some component of the business, even traditional ---+ our traditional advertising agencies, our media business, as well as PR, healthcare, CRM, et cetera, there's a component of both private-based business and retainer business.
We'd prefer the retainer business.
But certainly there are some businesses we have, that are primarily project-based.
And on an overall basis, more of those businesses are probably in our CRM discipline than the others.
But each of the businesses does have a project-based component.
And, you know, we don't really segregate the revenues that way within those businesses.
Yes.
If you could just repeat that one, <UNK>.
We really can't.
It goes into a much larger calculation than what we show our organic growth and contribution from wins to organic growth, growth and reducing clients.
We fully expect there to be losses during the year, without adding impact for clients coming back on projects.
So we don't ---+ we don't really sit down.
I think the check ---+ I think maybe one way of answering as directly as we can is, we don't place very much of an emphasis on what the billing number is, when new business gains and losses or net new business, billing on gains and losses in that calculation.
So a lot of the numbers ---+ a lot of the businesses we have, the billings number really isn't relevant to the revenue that's being driven from gaining that business from a client.
It's an approach and a methodology that the industry follows.
Everybody wants us to provide a number.
We do our best to come up with a number that's somewhat consistent, in terms of the way we report it.
But we don't place any emphasis on it, in terms of how we actually run the businesses themselves.
We're focused on the revenue contribution in those businesses.
And when we say our expectation is 3% to 3.5% growth, that includes an expectation ---+ or that includes both new business wins and losses that we know of, and new business ---+ some aspect of new business that we expect businesses to obtain.
But in terms of this year, even with P&G, which from an Omnicom perspective is a fantastic win from a revenue perspective, it's nothing out of the ordinary, when you combine it with the rest of what we expect to be in excess of $4 billion of wins net for 2016.
That's a normal year.
We expect our growth is going to be a relatively normal year in that context.
One thing I would add about P&G is it was a wonderful win, for multiple reasons.
One, it validated all the work we've been doing in the digital space.
And what we can ---+ and the services we can provide clients.
And, two, I'm not expecting much of it in the second half of this year, because we are going to be primary focussed on P&G.
But it allows us to open up a third media network, which in 2017 and 2018 and out, is going to provide us opportunities to pitch our business that we might otherwise have precluded from pitching.
Very little.
The margin impact in this quarter was less than 5 basis points.
So 3 or 4 basis points.
So for us, that's a non-event, which is what we would expect in an environment of plus or minus 1% or 2% FX.
Well, we have ---+ we are probably focused more in some ways on improving the service offers, because of the fact that it's hanging both in the way that creative is done, media is executed with all of the channels.
One of the reasons that we announced the formation of two of the groups that are included in DOS, both the public relations and the healthcare, was to getting more focus ---+ even though they're growing, PR had a little trouble in the last quarter or two, healthcare has always been strong.
Is to get more line management, people who are operators in charge of those groups or companies, to continue to drive growth and to make recommendations for incremental acquisitions, which supplement and complement the projects that we have.
As we go through the rest of the DOS, which is a very large part of our group, we're taking a look at other areas, where a similar approach might add to net growth, and as we go out.
But we don't rush, and as I said in my prepared remarks, we have great respect for the brands.
And so we want to make sure that we can strengthen individual brands, in whatever process we take on board.
And the market is open, so I think we can have one more question.
Go ahead.
Sure.
Well, first of all, you're absolutely right.
They're great investments that have to be made in the changing social media environment.
When you focus only on brands, and you don't have any central leadership, you tend to make those investments multiple times.
I think by having central leadership we'll basically be able to do a better, faster job in creating platforms that will be able ---+ which we'll be able to white label, and therefore use across our goods.
The other thing that we've been seeing is an increasing number, not complete number of briefs coming from multi-national clients, looking for different types of services to be included in our responses.
While we have a lot of similarity in our largest groups, there are a lot of specialties in some, that are not included in others.
By having a single individual or team that becomes intimately familiar with the 6,000 people we have there, we will do a better job, I think, and increase our opportunities of winning the business, simply from the knowledge and the control of somebody that is focused 100% of the time on managing our PR assets.
I hope that answered your question.
Okay.
Thank you, everyone, for joining the call.
Have a great day.
