WPP Makes Progress In 2018, But Creative And CPGs Still Cause Pain

After two years of stock declines, WPP is finally inching toward progress. The holding company on Friday reported revenue was down 1.3% in 2018 to $2 billion and billings up 0.4% to $7.4 billion, at the upper end of guidance set in October. Shares jumped 8% upon the news. But work remains to be doneContinue reading »

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Amid WPP’s Focus On Creative Transformation, Triad Launches A Consultancy

Remember when WPP CEO Mark Read said he wanted the holding company to be known for creative transformation? That need to evolve has finally hit Triad, a company WPP acquired in 2016 that sells paid media on ecommerce sites. On Tuesday, Triad rebranded from Triad Retail Media and launched a consultancy to help brands increaseContinue reading »

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How Amazon Undercuts Williams-Sonoma; Apple Explores Gaming Subscriptions

Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here. Amazon Vs. Williams-Sonoma A lawsuit filed by Williams-Sonoma against Amazon in December demonstrates the ecommerce platform’s ability to replicate and overwhelm rival product lines. Williams-Sonoma is relatively strong online, with ecommerce accounting for the majority of sales, and its furniture business West Elm isContinue reading »

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Tim Castree Named CEO Of GroupM North America

GroupM said Wednesday that Wavemaker global CEO Tim Castree has been named CEO of GroupM North America. Castree does not yet have a successor and will stay on in an advisory role at Wavemaker until a replacement is named. Castree’s big task will be to get GroupM back to growth in North America, its slowestContinue reading »

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Does WPP’s New Strategy Signify The Recoupling Of Creative And Media?

Even before WPP’s restructuring announcement Tuesday, the holding company had already merged digital agency VML with creative agency Young & Rubicam, and digital agency Wunderman with creative agency J. Walter Thompson. It’s still unclear what that means for GroupM’s four large media agencies. WPP CEO Mark Read didn’t comment directly about the media buying arm,Continue reading »

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WPP To Slash 3,500 Jobs And Consolidate More Agencies In Massive Restructure

The new WPP, as CEO Mark Read called it during a Tuesday morning investor call in London, will return to organic growth by reducing headcount by about 2.5%, consolidating agencies and investing strategically in technology. WPP expects to deliver annual savings of $346 million by the end of 2021 thanks to this strategy. Restructuring costsContinue reading »

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The Big Story: Sir Martin Sorrell’s Botanical Curiosity

What’s a coco de mer? A double coconut, which is what Martin Sorrell is cultivating with S4. The holding company he once described as a peanut grew into a coconut – also his description – when it acquired MediaMonks in June. With its second acquisition with MightyHive on Tuesday, the coconut has doubled up. FromContinue reading »

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S4 Capital Reports First-Ever Earnings

Martin Sorrell’s self-proclaimed “peanut” of a holding company has officially graduated to a coconut. S4 Capital reported its first-ever earnings as a public company Wednesday, following its reverse takeover of Derriston Capital in April. Q3 revenue grew 45% to $33 million and rose 48% to $94 million for the first nine months of the year.Continue reading »

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WPP Q3 Worse Than Feared, Kantar Officially For Sale

Something is wrong with WPP Group – or, perhaps, many somethings. On its Q3 call with investors Thursday, management detailed a list of ailments longer than that of a septuagenarian overdue for his physical. North America? “Further weakening.” Creative agencies? “Doing poorly.” Account losses? As bad as you’ve heard. Revenue was down .8%, and theContinue reading »

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Why Holding Companies Are Shedding Non-Core Assets

After stagnant growth in 2017, holding companies are getting rid of assets that aren’t related to their core focus on digital transformation, programmatic, data and technology. Omnicom, Publicis Groupe and WPP have pruned their portfolios this quarter, though IPG and Havas have made smaller and less strategic moves – to their detriment. Pivotal Research analystContinue reading »

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