News that WPP, the world’s largest advertising group has issued a second sales warning requires some reflection.
The reason provided by CEO Sir Martin Sorrell is that fast-moving consumer companies are spending less with agencies, or more worrying for agencies in general – going direct to Facebook and Google.
Sorrell was quoted in an article in the Financial Times also admitting that digital disruption (of WPP and the industry generally) is a fundamental one.
Time for some fresh thinking! Perhaps agencies need to disrupt themselves faster than first thought – easier said than done.