"Our recent performance is unacceptable and we are taking action to address this,"
"We just haven't gone far enough or fast enough in adapting to the evolving needs of our clients."
"GroupM, in the past, probably lost its way,"
"I feel very confident that Brian's vision of an open, privacy-first data and AI powered ecosystem is the way the market is moving... we're starting to see big shoots of success with important retentions and wins this quarter and hopefully many more to come."
WPP reported £3.2 billion revenue in the third quarter while like-for-like revenue less pass through costs fell 5.9% in Q3 and 4.8% year-to-date. The company revised full-year organic growth guidance to an expected overall decline of 6%. Executives labelled recent performance unacceptable and acknowledged insufficient adaptation to evolving client needs. WPP Media revenue dropped 5.7% for a second consecutive quarter with major account losses including Mars and Bayer. GroupM is being repositioned toward an open, privacy-first, data- and AI-powered ecosystem with early retentions and wins, while consolidation and InfoSum initiatives must prove they deliver efficiency and stronger content-context connections.
Read at Digiday
Unable to calculate read time
Collection
[
|
...
]