WPP pips Omnicom to top world’s ad agencies
In a response to a questionnaire from FE, WPP chief executive Martin Sorrell said, “The full-year results (for the group) show billings up 16.6% at Ł36.929 billion, or $67.381 billion.” This is an almost 21% rise in reportable revenues according to Sorrell.
The changes will also impact the India operations of both the two global advertising giants. WPP’s major Indian subsidiaries and joint ventures include JWT, Ogilvy & Mather, Contract, Grey Worldwide, Bates and 141. Omnicom’s India subsidiaries and joint ventures include BBDO India, RK Swamy BBDO and TBWA India.
According to Sorrell, despite the overall slowdown in the growth rate of the advertising industry as a result of the international financial crisis and its aftermath, three engines of relative growth remained. These include Asia-Pacific, Latin America & Africa, which formed one group; the Middle East was another growth area, while Central and Eastern Europe also continued to grow relatively quickly and now represented almost 27% of the group’s total revenues, Sorrell added.
On WPP’s plans for 2009, a difficult year for the advertising industry, Sorrell said the group would place increased emphasis on pushing
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