Operating profit plummeted 84.7% to $40.5 million.
Total advertising revenue for media owners will shrink 7.2% for the year, before recovering +6.1% in 2021, according to the latest Magna forecast.
A number of holding companies say they will not enter the awards, while others have yet to decide.
McCann, FCB and MullenLowe Group all helped the strong growth, but APAC revenues slid 3%.
The regional responsibility is in addition to his role as the managing director of the Indian operations.
Media, healthcare marketing, PR and sports and entertainment offerings led growth.
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