WPP has recorded a drop in profits of 16% to £812m after what it described as a ‘brutal’ year for the agency network, which owns creative agencies Grey and Ogilvy and media agencies MediaCom and Mindshare
. Revenue across the group fell, with the UK reporting a 6% drop compared to the previous year, while revenue in western Europe fell by 10.2%. North America added to the decline with an 8% drop in revenue, while Asia Pacific, Latin America, the Middle East and central and eastern Europe regions saw a 6.8% like-for-like revenue fall.
In one of his last presentations as Worldwide CEO of Interpublic Group
of Cos.’ Mediabrands, Nick Brien, who succeeds John Dooner as head of McCann Worldgroup on April 1, gave an impassioned speech to a standing-room-only crowd at the 4A’s conference, telling his audience the world of new media calls for new types of marketing. “I spoke with 23 of our biggest clients, and each one of them told me that they believed the main drivers of business and market-share growth would come from marketing innovation,” Mr. Brien said. During his speech, titled “Transforming Media Integration for Greater Marketing Impact,” Mr. Brien outlined five things — convergence, performance, technology, talent and partnerships — that the marketing industry needs to address “to truly fulfill the potential of our contribution to driving business” for clients.
Interpublic Announces Management Succession at McCann Worldgroup (eon.businesswire.com)
Global economy ‘less worse’, but not in recovery just yet, says Sorrell (mumbrella.com.au)
WPP stable after ‘brutal’ 2009 (guardian.co.uk)