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Search resuls for: "Mark Read"


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☆ WPP Says Growth Target on Track Despite Softness From Some Tech Clients
  + stars: | 2023-04-28 | by ( Megan Graham | ) www.wsj.com   time to read: 1 min
The WPP headquarters in New York. Chief Executive Mark Read said the company has seen some slight softness from some of its technology clients following several years of increasing budgets. Photo: WPPAdvertising holding company WPP PLC says it is on track to hit its organic growth target this year as other parts of its business help offset lower spending from some technology clients. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. The measure strips out currency fluctuations, acquisitions, disposals and costs such as expenses billed to clients.
☆ The CEOs of the world's biggest advertising companies just outlined how AI is about to transform their businesses
  + stars: | 2023-04-28 | by ( Lara O'Reilly | ) www.businessinsider.com   time to read: +4 min
Advertising agency CEOs are eager to signal their companies' AI expertise to Wall Street. Speaking on this quarter's earnings calls, executives at the world's largest advertising agency groups also outlined some of their recent AI client projects and technology task forces. "What's changed over the last six months is the application of AI through generative AI into the creative process," Read said. Omnicom is running more than 20 projects where it combines Omnicom's historical data with GPT's automation technology, Wren said, though he didn't specify exactly how it was being deployed. That will require more creative assets, Sadoun said on the Publicis earnings call.
☆ We're going to see an A.I. 'creative renaissance' in our industry, WPP CEO says
  + stars: | 2023-04-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're going to see an A.I. 'creative renaissance' in our industry, WPP CEO saysMark Read, CEO at WPP, says artificial intelligence will open up "tremendous creative opportunities."
☆ WPP, Like Ad-Company Rivals, Says It Expects 2023 Growth
  + stars: | 2023-02-23 | by ( Megan Graham | ) www.wsj.com   time to read: +2 min
WPP PLC is the latest major advertising holding company to say it expects continued growth in 2023 as clients keep spending on its services. PREVIEWWPP said like-for-like revenue less pass-through costs increased 6.9% in 2022 and 6.4% in the fourth quarter. Total revenue in 2022 was £14.4 billion, equivalent to about $17.3 billion, while revenue less pass-through costs was £11.8 billion. Chief Executive Mark Read said that consumers have continued to spend, and clients have continued to invest in their brands. Omnicom Group Inc. and Publicis Groupe SA both said they expect organic revenue growth this year of 3% to 5%.
☆ Marketers Must Be Flexible, Without Losing Identity, in Uncertain Times
  + stars: | 2022-11-27 | by ( Nat Ives | Sophie Kelly | Senior Vice President Of Whiskies At Diageo North America | ) www.wsj.com   time to read: +9 min
“There’s no such thing as a set forecast right now,” said Sophie Kelly, senior vice president of whiskies at Diageo North America, speaking at the same event. The firm, a unit of Interpublic Group of Cos.’ Mediabrands, cut its growth forecast for next year to 4.8% from an earlier prediction of 5.8% in June. Organic revenue growth is a metric that removes the effects of currency fluctuations, acquisitions and disposals. Airbnb Inc. slashed its advertising spending and invested in brand marketing, lessening its reliance on search-engine marketing. “We knew that people are changing their behavior,” said William White, Walmart’s chief marketing officer.
☆ Complexity for Marketers Has Meant Opportunity for Ad Agencies
  + stars: | 2022-11-14 | by ( Megan Graham | ) www.wsj.com   time to read: +7 min
Their performance is striking compared with ad agencies’ plight five years ago: Facebook and Google had established direct relationships with marketers and were winning growing portions of their ad budgets before agencies could even offer their services. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. PREVIEWSome major owners of ad agencies watched their growth slow or flatten in 2017 and 2018. Agency companies have responded by building practices to help marketers on platforms like TikTok and Amazon. Marketers navigate outside partnersSome major marketers still want to keep a close handle on some of their data efforts.
☆ Adland veterans play tortoise to Big Tech’s hare
  + stars: | 2022-11-10 | by ( Oliver Taslic | Thomson Reuters | Oliver Joined Breakingviews In As A Research Assistant. He Previously Worked In Market Research | ) www.reuters.com   time to read: +3 min
In the three years to the end of 2021, Alphabet, Meta and Snap (SNAP.N) hared ahead. The upshot was the Big Tech groups boasted 2021 revenue of $380 billion, most of which was digital advertising. Alphabet, Meta and Snap saw revenue up a miserly 2.4%, on average. For one thing, digital ad giants’ stellar 2021 made maintaining the pace trickier. Meta and Alphabet will still see some of this cash given traditional ad players will use platforms like Google for these big clients’ digital advertising.
☆ Ad group WPP wrestles with wage pressure in resilient quarter
  + stars: | 2022-10-26 | by ( Paul Sandle | ) www.reuters.com   time to read: +2 min
Shares in WPP, which have fallen 20% in the last 12 months, were down 3.8% early on Wednesday. Analysts at Citi said they reduced their earnings per share forecast by around 5% following the margin guidance change. Read said Brazil and India were stand-outs in the quarter, although COVID-19 lockdowns weighed on China, which was down 9%. Western Europe was "softer", he said, with adjusted like-for-like revenue down 2.1%, dragged lower by a COVID-19 contract in Germany in the prior year. ($1 = 0.8651 pounds)Reporting by Paul Sandle; Editing by Sachin Ravikumar and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.
☆ Marketers’ Continued Spending Makes WPP Latest Ad Giant to Boost Guidance
  + stars: | 2022-10-26 | by ( Megan Graham | ) www.wsj.com   time to read: +2 min
PREVIEWLike-for-like revenue less pass-through costs compares net sales at constant currencies and excludes acquisitions, disposals and costs such as expenses billed to clients. The company saw like-for-like revenue less pass-through costs increase 3.8% in the third quarter, compared with the period a year earlier. WPP Chief Executive Mark Read said the company’s clients’ appear to be continuing their spending in the fourth quarter. “We’re not expecting a slowdown in the fourth quarter,” Mr. Read said. In September, Interpublic Group of Cos.’s Magna unit clipped its U.S. advertising growth forecast for 2023, saying a weaker economic environment is likely to cut into spending.
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