WPP’s Sorrell: 2009 ‘Very Tough’, Zuckerberg Made Mistake On Beacon January 30, 2009
Posted by Mark Blei in : Uncategorized , add a commentNo surprise that Martin Sorrell sees the next few months as “very tough,” but the WPP ad group CEO also reckons the financial markets will improve in the second half of the year, leading to a “real-world” recovery in 2010 (via Bloomberg).
By that time, though, the advertising world will have changed: “Old media will never be the same again or as profitable again,” he told an International Advertising Association gathering in London yesterday (via Campaign mag).
Read The Rest—>Very Tough’, Zuckerberg Made Mistake On Beacon
WPP Takes Stake in Omniture January 29, 2009
Posted by Mark Blei in : Uncategorized , add a commentThe agreement is a testament to Martin Sorrell’s belief that ad holding companies must branch out beyond their traditional expertise
NEW YORK WPP Group and Omniture have concluded a collaboration agreement through which the holding company will invest $25 million in the analytics firm.
The firms agreed to work together on product development, with WPP shops like OgilveyOne, Wunderman, Enfatico, GroupM and 24/7 Real Media participating.
The plan calls for WPP in 12-18 months to shift its own technology and data products onto Omniture’s platform. This includes 24/7’s ad-serving systems and TNS’ data collection platforms.
The agreement is a testament to WPP CEO Martin Sorrell’s belief that ad holding companies must branch out beyond their traditional expertise in media and creative. (WPP spent $649 million to buy ad serving firm and network 24/7 Real Media in May 2007.)
“In the current economic environment and as clients continue to experiment with and develop their online budgets, the need for better analysis, measurement and focus on return on investment is more important than ever,” Sorrell said in a statement.
WPP bought 2.8 million units of Omniture common stock at $8.76 per share. Based on Omniture’s outstanding shares, WPP will own about 3 percent of the company.
Omniture’s shares this morning opened at $9.44. The firm also issued a warrant giving WPP the option to purchase more shares if undisclosed performance objectives are met.
Read The Rest—>WPP Takes Stake in Omniture
Global recession: threat or opportunity? January 29, 2009
Posted by Mark Blei in : Uncategorized , add a commentNow that Barack Obama is the 44th President of the United States, many are hoping he will act boldly and swiftly (as he promised in his inaugural address) to improve the state of the American economy. If the Obama administration succeeds in doing this, marketers around the world will breathe a collective sigh of relief.
Unlike previous U.S. recessions, this one has quickly affected people living in countries far away, including China, India and Indonesia. Marketers around the world are facing an unprecedented decline in consumer demand for goods and services.
Read The Rest—>Global recession: threat or opportunity?
WPP's Martin Sorell Discusses the current market outlook January 21, 2009
Posted by Mark Blei in : Uncategorized , add a commentWPP Tries To Overcome "Digital Myth," Names Eastman Worldwide Digital Director Of JWT December 11, 2008
Posted by Mark Blei in : Uncategorized , add a commentWith the pomp and circumstance that it might have announced a new creative director in days of old, one of Madison Avenue’s best known full-service ad agencies, WPP Group’s JWT, this morning announced that David Eastman has been named its worldwide digital director, responsible for the strategic oversight and management of digital advertising campaigns within the agency, and all its subsidiary companies. Eastman, who joins JWT from CEO of rival Omnicom’s Republic Family (formerly Zulu network), had previously been president-CEO of Omnicom’s Agency.com. The appointment comes days after WPP Chairman-CEO Martin Sorrell made an impassioned pitch to Wall Street analysts that WPP, not big rivals like Paris-based Publicis Groupe, is the most forward-thinking, and moving, digital organization on Madison Avenue. “I think there is a little bit of a misunderstanding over our digital businesses,” Sorrell told analysts, investors and journalists attending UBS’ Media Week conference in New York this week. He said that digital marketing services now account for about $2.8 billion of WPP’s revenues, or about “23% of group revenues,” and said that WPP currently is about “three times the size” of its next closest agency competitor – Publicis – in terms of “digital prowess.” He also said that WPP continues to be Google’s largest customer, and currently bills about $900 million in search related advertising through Google, or about “6% of their total revenue.”
Read The Rest—>WPP Tries To Overcome “Digital Myth,” Names Eastman Worldwide Digital Director Of JWT
WPP's Sir Martin Sorrell Talks about the economy his outlook on 2009 and other points of interest December 11, 2008
Posted by Mark Blei in : Uncategorized , add a commentSorrell Feels the Heat December 9, 2008
Posted by Mark Blei in : Uncategorized , add a commentAuto, retail and travel ad budgets under ‘intense pressure,’ WPP chief tells UBS conference
Dec 8, 2008
NEW YORK WPP Group CEO Martin Sorrell, speaking at the UBS Global Media and Communications Conference today, reiterated concerns about the advertising marketplace next year given the recession and massive fluctuations in the stock market.
“I do think that the financial markets, which always go down or go up before the real world — of which we are part — will recover … by the middle of next year,” Sorrell said. “The real world, I don’t think will change for the better until 2010. And it will be helped by the fact that comparatives are going to be against a down market.”
Such comments echoed remarks Sorrell made last month in a video interview with Adweek.
Asked by an industry analyst how automotive and retail clients in particular are budgeting their marketing dollars for next year, Sorrell said all client categories are pressured, though auto, retail and travel are under “intense pressure.” Automotive business supplies about 10 percent of WPP’s global revenue and Ford is its No. 1 client.
“Every piece of evidence we find to be produced shows that those [clients] that cut in these times suffer and the costs of getting back to where they were are greater than if they continued to invest. But easier said” than done, said Sorrell, addressing a ballroom full of Wall Street analysts at the Grand Hyatt in New York.
Read The Rest—> Sorrell Feels the Heat
MediaPost Publications – Mindshare Wants A Lotame, And A Lot Of You: Cuts Deal Based On How We Spend Time Online – 11/11/2008 November 11, 2008
Posted by Mark Blei in : Uncategorized , add a commentIn a Madison Avenue first, WPP’s Mindshare unit has cut a deal to begin serving ads to social media users based on the time they actually spend engaged on social media sites, and the advertising content surrounding them. The deal, details of which will be announced today with Lotame, the developer of an advanced audience behavior targeting system, is another step by a major agency away from the classic advertising model of placing ads based on the context of media content and instead moving to one based on the context of the audiences consuming it. Lotame, which is a truncation of “local, target and message,” is a scrappy start-up, has won favor with publishers of mid-tier social networks – a grouping just under the Facebooks and Myspaces of the Web 2.0 universe that represents about 50 million unique users – by developing a suite of audience targeting systems enabling agencies and marketers to serve ads to users based on where and when they might be most receptive to an ad for a specific advertising brand.
Read The Rest—>MediaPost Publications – Mindshare Wants A Lotame, And A Lot Of You: Cuts Deal Based On How We Spend Time Online -Online Media Daily 11/11/2008
WPP Bid Garners 82% TNS Shareholder Approval October 8, 2008
Posted by Mark Blei in : Uncategorized , add a commentNEW YORK WPP Group said today that it would proceed with its $1.9 billion acquisition of market research firm Taylor Nelson Sofres now that shareholders representing 82 percent of outstanding shares have agreed to the buyout. The offer, WPP declared, was now “unconditional.”
WPP said that its offer would be extended until Oct. 22 so that shareholders who have not yet agreed to the sale can do so. The holding company also said it would provide notice to TNS shareholders shortly that TNS stock would be delisted from market exchanges, a move that would “significantly reduce the value” of any shares remaining uncommitted to the WPP offer, the holding company said.
WPP CEO Sir Martin Sorrell, said in a statement, “We are delighted to be a step closer to welcoming such a fine company with strong people, clients and brands that will enhance our client offering.”
READ MORE BY CLICKING HERE WPP Bid Garners 82% TNS Shareholder Approval
WPP to quit UK for Ireland for tax reasons September 29, 2008
Posted by Mark Blei in : Uncategorized , add a commentLONDON – In another blow for Gordon Brown and his business taxation policies, Sir Martin Sorrell’s WPP Group is to leave the UK and shift its British headquarters to Ireland because of changes to the tax regime, which could cost the marketing group tens of millions of pounds.
WPP is expected to announce this week it is moving its tax domicile from the UK because of the threat of a markedly higher corporation tax bill.
READ THE REST HERE
