WPP’s underlying revenues slumped by 15.1% over the past three months as Covid-19-imposed cuts to ad spend deepened, reports The Drum, which adds that the holding company’s chief executive, Mark Read, pictured above, said the group had got over “the toughest period of the year” but remained cautious about the speed of recovery.

The Drum report adds that “Read stressed that despite the pandemic dealing a blow to revenues, WPP’s ongoing pivot towards more blended ways of working and digital transformation stood it in good stead to help clients “adapt their marketing strategies at speed and reshape their operations for a new world”.”

According to Wikipedia, “WPP plc is a British multinational communications, advertising, public relations, technology, and commerce holding company headquartered in London, England. It is considered the world’s largest advertising company, as of 2019. WPP plc owns many companies, which includes advertising, public relations, media, and market research networks such as AKQA, BCW, Essence Global, Finsbury, Grey, GroupM, Hill+Knowlton Strategies, Kantar Group, Mindshare, Ogilvy, Wavemaker, Wunderman Thompson and VMLY&R.”


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