Advertising Giant WPP Lowers Forecast as Clients Cut Back [The New York Times]
WPP PLC AMERICAN DEPOSITARY SH (WPPGY)
US:NASDAQ Investor Relations:
wpp.com/wpp/investor/financialnews/2017/nov/16/wpp-announces-transfer-of-its-american-depositary-shares-ads-to-nyse
Company Research
Source: The New York Times
Photo A company plaque outside the offices of the British advertising giant WPP in London. Credit Daniel Leal-Olivas/Agence France-Presse — Getty Images WPP, the world’s largest advertising group, cut its growth forecast for the year as clients led by consumer goods companies cut back on marketing budgets, raising broader concerns about the health of the industry. With major American companies like Procter & Gamble facing sluggish growth, traditional providers of mass marketing like agencies and television networks are feeling the ripple effects. At the same time, the disruptive companies threatening those established players are typically growing online without the help of agencies and TV ads, at least in the beginning. “To the extent that we’re seeing growth in the total advertising market, we’re seeing a substitution of the Dollar Shave Clubs of the world for the Gillettes of the world,” said Brian Wieser, a media analyst at Pivota
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