WPP confirmed Tuesday that its board has hired an independent counsel to investigate CEO Martin Sorrell for misuse of funds and allegations of inappropriate behavior. The Wall Street Journal first reported the news. The advertising giant issued the following statement regarding the investigation: “The Board of WPP has appointed independent counsel to conduct an investigation […]
Despite a slight uptick in CPG volumes in Q4 2017, WPP CEO Martin Sorrell still predicts cyclical budget cutting from the sector due to pressure from activist investors and zero-based budgeting (ZBB). “What we see in packaged goods, certainly, is a continued caution,” he said on WPP’s Q4 and FY 2017 earnings call Thursday. “I […]
As the first homegrown WPP agency, GroupM’s Mindshare has always had an entrepreneurial spirit. “We were born in Asia when Madison Avenue and the high street of London told us you can’t have a media independent,” said Mindshare’s US CEO, Adam Gerhart. “That provocateur and internal upstart mentality is pervasive in everything we do.” The […]
Advertisers want to market using the type of rich data provided by walled gardens – but that’s not possible on the open web. So the major holding companies have each developed data platforms to meet their clients’ needs. The question is: What’s the difference between their offerings? Publicis Groupe’s Spine, IPG’s AMP, WPP’s mPlatform, Dentsu […]
While most agencies are still trying to wrap their heads around programmatic, digital agency Essence is expanding into the linear world. When it launched as a digital agency in 2005, Essence didn’t bother investing in traditional media, said Global CEO Christian Juhl. Instead, it would wait until traditional media became digitized and the market naturally […]
When Wavemaker, the agency born from GroupM’s joining of MEC and Maxus, hired former Publicis exec Oleg Korenfeld last month, it asked him to build a platform to facilitate media planning, buying and strategy across eight major markets. The agency knows that having globally scaled technology is key to its ability to consolidate. Korenfeld is […]
WPP is embracing the forces of change – both internally and externally. Internally, CEO Sir Martin Sorrell knows WPP’s clients want simplification, which will lead to more consolidation. “We’ve seen it amongst clients and media,” he told AdExchanger. “We’re quite likely to see a similar set of circumstances in the agency business.” And externally, he’s […]
The past year was a tough one for agency holding companies. WPP, Omnicom, Publicis Groupe, IPG, Dentsu Aegis Network and Havas posted little to no growth in 2017. The agency business has been in flux for years, but 2017 offered the “perfect storm” of challenges that caused growth to stutter, said Greg Paull, principal analyst […]
Agencies are dying? Don’t tell that to Rob Norman, chief digital officer and veteran of WPP’s GroupM, who said Monday he will step down from his full-time role to become a part-time adviser for the company. But even if agencies aren’t having a near-death experience, they should behave like they are, Norman said: “If you […]
WPP, which reduced its full-year forecast Tuesday following a disappointing Q3, said it had invested mre than $7 billion on Google and Facebook this year as the No. 1 and No. 3 destinations for its clients’ media spend. NewsCorp., Twenty-First Century Fox, Sky and Foxtel all tied as the second-largest destinations for client spend. By […]
One of the many pressures facing holding companies is increased competition from management and IT consultancies like Accenture, Deloitte, IBM and PricewaterhouseCoopers. While consulting firms may not be their biggest threat today, tomorrow could be another story. Holding companies tend to work from the bottom up, focusing on marketing initiatives like creative or media strategy […]
Triad Retail Media promoted its chief customer officer, Sherry Smith, to the CEO position on Tuesday. Roger Berdusco, Triad’s former CEO, is leaving the company to pursue other opportunities. Triad manages ad sales on major retailers’ ecom sites including Walmart, Sam’s Club, eBay, Stubhub, Staples, Toys R Us, and most recently, Barnes & Noble. But […]
WPP’s stock is down. And the company’s longstanding chief, Martin Sorrell, isn’t sure if the holding company can do anything about the factors putting pressure on its business. “I don’t know whether anything is within our control or not,” Sorrell said. “Some people say it’s the rise of the digital giants. No. Some people say […]
WPP CEO Martin Sorrell called out Twitter’s revenue potential – along with the social platform’s positioning amid Google and Facebook’s ad dominance – in an interview with Twitter CEO Jack Dorsey onstage at Dmexco in Germany on Wednesday. “Twitter does not seem to have achieved the prominence Twitter [and the industry] would want,” Sorrell said. […]
WPP cut its growth outlook from 2% to between flat growth and 1% during its Q2 2017 earnings call on Wednesday as clients, particularly CPGs, squeeze their marketing budgets. WPP pegged 2017 growth at 3% at the beginning of the year and reduced it to 2% in Q1. “The key factors here were the trifecta […]
Media agencies know how to find the right person at the right time, thanks to the growth of programmatic. But they’re still trying to pin down how to send the right message. “You want the media to recognize where they were, but you also want to recognize where they were in the conversation,” said Zimm […]
It’s been six months since GroupM launched mPlatform to unify its agencies’ access to data and technology. Since its inception, the organization has rolled out a data repository containing insights tied to known consumer IDs and now agencies across GroupM and WPP are “building it into the fabric of their networks,” said mPlatform CEO Brian […]
Brian Lesser, CEO of GroupM North America, will leave the company for a role at AT&T, the WPP-owned media buying giant announced on Friday. “Brian has been a key contributor to 24/7, Xaxis and most recently GroupM, and we are sorry to see him go, but wish him every success in his new role,” GroupM […]
As automation takes hold of the advertising industry, media planning and buying agencies are being forced to take a cold, hard look in the mirror. “We’re dealing with a lot of forces of commoditization,” MEC CEO Tim Castree told AdExchanger. Castree is in a delicate spot. Following MEC’s merger with sister GroupM agency, Maxus, he’ll […]
The in-housing trend continues to reshape agency and ad tech relationships. CPG giant Unilever announced on Wednesday that along with WPP it will invest $15 million in mobile creative management platform Celtra. The move aligns with Unilever CMO Keith Weed’s rather blunt approach to marketing strategy. “Get out of marketing if you’re not going to […]
WPP cut its growth target for this year from 3% to 2%, citing a tepid economy and lack of new business wins, the company said on its Q1 earnings call on Thursday. Q1 organic growth came in below expectations at 0.8%. WPP is feeling the pricing pressure from CPGs as they struggle to compete with […]
Holding company trading desks this year are putting the focus on data and the ability to identify a customer across screens and platforms. That focus made owning data mission critical, and it’s shifted the focus away from programmatic as a silo and toward data management and activation across the board. As a result, “trading desk” […]
Any publisher who is not a big platform company is on the express train to becoming a niche ads business, predicts Meredith Kopit Levien, EVP and CRO of The New York Times. “Up until now, we’ve been a niche consumer business with a $1 billion-plus newspaper ad business,” Kopit Levien said, speaking Thursday at AdExchanger’s […]
For the big six holding companies, 2016 was a year of acquisitions, restructures, reviews and leadership shakeups, centering expertise around data and digital. But they also engaged in strategies at odds with best practices and client interests. Faced with shrinking margins and rising technology costs, holding companies found new ways to eke revenue – methods […]
WPP-owned GroupM said Tuesday it will centralize its tech and data expertise worldwide into a unit called [m]Platform. The division will be helmed by Xaxis CEO Brian Gleason with key executives drawn from Xaxis and across GroupM. “The collective mission of [m]Platform revolves around technology, data and expertise,” Gleason told AdExchanger. “The mission is how […]
AT&T now has controlling interest in addressable TV platform Invidi, following an investment the telco giant revealed Monday. The exact amount was undisclosed. Prior investor WPP and Dish Network also participated. Although Invidi will remain independent, AT&T, Dish and WPP have collective ownership. An AT&T spokesperson said the telco sees “opportunity for continued expansion in […]
Has performance-based pay finally arrived for agencies? Traditionally, marketing services firms were paid on a set scope of billable hours worked by each employee on an account. But a growing number of advertisers are pushing for more tangible, ROI-based remuneration. The biggest recent example is McDonald’s. The quick-serve advertiser’s RFP process specified that agency compensation […]
Agencies across WPP’s network will gain access Spotify’s audience insights for better targeting across creative and media. The multiyear partnership between Spotify and WPP’s Data Alliance, announced Tuesday, will grant WPP access to anonymized and aggregated data from Spotify’s 100 million listeners across 60 countries. “The data we have from Spotify will resonate across WPP,” […]
Despite being one of the world’s largest commercial real estate firms, CBRE has a low profile in digital media. Until 2014, all of the 110-year-old company’s marketing was executed through traditional media. Then it hired Paul Suchman as chief marketing officer. An agency vet with a history at Young & Rubicam, OgilvyOne and BBDO, Suchman […]
As WPP’s direct marketing agency, Wunderman began collecting data about individual consumers before it was the currency of the digital world. “Data was the lifeline of this place to begin with,” said Wunderman’s New York president, Jamie Gallo. “It was very pedestrian and primal data, but it was what the agency was built on.” As […]
